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Ruble’s fall against dollar, euro accelerates Thursday, spurred by dropping oil

The strengthening of the dollar and euro accelerated significantly on the Moscow Exchange on Thursday evening, and they were trading near their maximum since April 4-8; the ruble extended its decline against the bi-currency basket under the pressure of the accelerating oil decline and lowered risk appetite worldwide.

The dollar was up 90.75 kopecks at 65.53 rubles/$1 and the euro was up 78 kopecks at 73.2925 rubles/EUR1 from previous closing by 7:00 p.m. on Thursday. The bi-currency basket ($0,55 and EUR0,45) was up 85 kopecks to 69.02 rubles.

As a result of this morning’s index session, the Central Bank did not change its official dollar and euro rate, which have been 64.6314 rubles/$1 and 72.3096 rubles/EUR1 respectively since May 1. Hence, the dollar traded on the Moscow Exchange 64.36 kopecks higher and the euro 83.04 kopecks higher than the official rate on Thursday.

There was no Today trading for the dollar and the euro on the Moscow Exchange on May 2 due to public holidays in Russia.

The dollar averaged up 74.37 kopecks to 65.268 rubles/$1 in Tom deals on Moscow Exchange by 7:00 p.m. Overall trading volume was $1.130 billion.

The euro averaged up 75.42 kopecks to 73.0724 rubles/EUR1 in Tom deals on Moscow Exchange by 7:00 p.m. Overall trading volume was EUR95.777 million.

As the first five days of May (from May 1 to 5) have been officially declared public holidays in Russia, the MosPrime Rate is not calculated in this period.

Credit : http://www.interfax.com/newsinf.asp?id=900978