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The Russian ruble has accelerated the decline of cheap oil

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The Russian ruble has accelerated the decline of cheap oil

Post by Admin on Tue Aug 11, 2015 11:58 am

record for the first time in more than five months, rising above 71 rubles. At the peak, the euro reached a mark of 71.1 rubles., 1.89 rub. higher than yesterday's closing. In previous times above 71 rubles. the euro rose 25 February 2015.

At the same time the dollar rose to 64.164 rubles., Which is 1,354 rubles. above the level of the close of trading on August 10, according to UNIAN

Analysts attribute the decline of the ruble to the fall in oil prices, which, after yesterday's rally plummeted. During today's trading on the stock exchange ICE futures price for Brent crude oil for October delivery in 2015 fell below $ 50 a barrel. At a minimum price per barrel fell to $ 49.76, which is more than 2% lower than yesterday's closing.

One reason for the sharp drop of oil prices and the strengthening of the dollar is called devaluation of the RMB exchange rate which the People's Bank of China dropped by 1.9%, the largest decline since 1994.

glavcom.ua   In Russian


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