“The ruble fell against the dollar and Euro after declining oil

US dollar and the Euro rising on the Moscow stock exchange at the opening of trading on Wednesday, the ruble declines against the currency basket, reflecting the decline in prices in the oil market.

The first transactions in US dollar were in the range 58,43-58,51 rubles/$1, at the end of the first minute of trading, the rate was 58,43 RUB/$1 (+7,25 penny to the previous close). While the Euro rose to 69.3 rubles/EUR1 (+15.25 cents), the value of the currency basket ($0.55 and EUR0,45) rose by 10.85 kopeks against the Tuesday’s closing level, to of 63.32 ruble.

The dollar has been on 2 kopecks below the level of the current official exchange rate of the Euro by 19.34 kopecks below the official rate.

According to experts of “Interfax-CEA”, the ruble declines against the dollar and the Euro at the start of trading Wednesday, following falling oil prices, the quotations which go down into data on an unexpected increase of inventories of fuel in the United States. February futures for Brent oil at the London ICE Futures exchange at 10:01 Moscow time has fallen in price on 0,46% – to $62,95 per barrel. Quotes of WTI oil futures for January on the morning of Wednesday has decreased on 0,46% – to $57,74 per barrel.

The American petroleum Institute (API) reported on Tuesday that crude oil stocks in the USA last week increased by 1.8 million barrels, distillates by 2.7 million barrels. The Institute receives information from operators of refineries, oil storage tanks and pipelines on a voluntary basis.

The official data of the U.S. Department of energy will publish on Wednesday at 18:30 GMT.

The key event this week for the market will be the meeting of representatives of the largest oil producing countries, including Russia, in Vienna on Thursday. The meeting will discuss the issue of extending the transaction to reduce oil production.

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