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The dollar and euro have slightly grown against the ruble during the bidding process on Tuesday

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The dollar and euro have slightly grown against the ruble during the bidding process on Tuesday

The dollar and euro have slightly grown against the ruble during the bidding process on Tuesday
October 25
12:30 2016

At the start of the trading session the Russian currency has slightly grown against the dollar and the euro at the Moscow Stock Exchange on Tuesday. The general stability of oil prices and active sales to the exporters have influenced this process. The euro is still updating the yearly lows.

On Tuesday the first deals on the dollar have been held within 62,08-62,16 rubles. On the average, the exchange rate has become equal to 62.12 rubles for the first a minute and a half. The euro was 67.58 rubles. The currency basket has fallen by 6 kopecks and amounted to 64.57 rubles.

The US dollar has become 11 kopecks lower than the current official exchange rate, the euro – 16 kopecks below the official rate.

The analysts at “Interfax-CEA” believe that the slight growth of the ruble against the dollar and euro can be explained by the increased demand for the ruble liquidity if there is the continuation of the consolidation at the oil market. At the same time the euro has been moving at the lowest level since the summer last year. The euro has been under pressure because of the increased dollar against the euro at the world market (the euro has fixed below $ 1.09, near the minimal seven-month marks).

The peak of the tax period in Russia, which is in the third decade of the month, favorably influences on the exporters’ active sales of the foreign currency. The oil is slightly fluctuating in anticipation of news from the OPEC. To the beginning of the day the contracts for Brent crude oil for December have become cheaper by only 0.1%, amounting to $ 51.42 per barrel on the London Stock Exchange.

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