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The ruble is getting a bit cheaper at the start of the bidding process

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The ruble is getting a bit cheaper at the start of the bidding process

The ruble is getting a bit cheaper at the start of the bidding process
October 11
14:00 2016

The Russian currency demonstrates a gentle correction down on Tuesday morning. This slight decline reflects the current strengthening of the dollar in the financial markets and the local drop of oil prices, which, in spite of everything, still remain near the highs for the year. Oil quotes is the main support for the ruble, which has reached its peak for the first time over many months.

At the beginning of the trade the currency pair dollar/ruble with calculations “tomorrow” was being traded at around 62.18 at the Moscow stock exchange. This is 0.3 percent higher than the previous session completion. A day earlier, the ruble rose to the value of 61.82 per the US dollar. This has happened for the first time since 23 October last year. Around the same time the euro with calculations “tomorrow” was located at the index of 69.15 rubles. This is 0.2 percent higher than the last session.

Brent is currently trading near the mark of $ 52.90 per barrel, losing 0.4 percent after an unexpected rise by 2.3 percent on the eve. Before this Brent had reached its peak of $ 53.73 over the year. This was a response to the comments of Russia and Saudi Arabia about the potential of the agreement on the production cuts among the OPEC countries.

The currency pair EUR / USD is around $ 1.1120 on the financial markets. The pair has been losing 0.2 percent since the beginning of Tuesday. The US dollar is rising against the euro as well as against most other currencies, taking into account both the raw materials and developing segments of the financial markets. Also, it is growing on the strengthening of expectations that the Fed interest rates will be raised at the meeting of the regulator in December.

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