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Ruble is falling following the oil at the beginning of the session

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Ruble is falling following the oil at the beginning of the session

Ruble is falling following the oil at the beginning of the session
September 23
12:30 2016

On Friday the Russian currency started with the weakening against the US dollar, following the oil fall.

The US dollar has increased by 0.29 percent against the Russian ruble and amounted to 63.89 rubles. The euro was equal to 71.62 rubles. It is 0.35 percent higher than the end of the session on Wednesday.

Oil is falling by 0.82 per cent, and now it is being traded at $ 47.26 per barrel.

Experts explain a slight drop of the ruble by the negative dynamics of oil prices. In the morning futures contracts for Brent oil have fallen by 0.8% to $ 47.3 per barrel on the London Stock Exchange.

VTB Capital experts report: “On Monday Russian companies are paying VAT and MET, so that today the exporters will have the last opportunity before these taxes to resupply the ruble liquidity, which can further support the ruble.”

Experts estimated the payment number of insurance premiums to funds outside the budget of the Russian Federation as well as tax payments in the current month of 2016 within the range of 1.160-1.375 billion rubles. The figure is about 900 billion rubles excluding payments to social funds.

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