Exchange rate of the Euro fell below 68 RUB for the first...

Exchange rate of the Euro fell below 68 RUB for the first time in more than 14 months

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Photo: Reuters/Pixstream

Euro on the Moscow stock exchange fell by almost 30 kopecks. for the First time since the beginning of August 2015, its rate fell below 68 RUB.

Trading currency on the Moscow stock exchange opened on 21 October by the strengthening of the ruble. Within the first half hour of trading, the Euro fell below 68 rubles, which was the first time since August 5, 2015. At a minimum the value of the Euro reached 67,98 RUB 29,25 kopecks below the closing level of the previous trading session.

Simultaneously, the dollar fell to 62.4 RUB, 8.75 kopecks below the closing level on 20 October.

The ruble strengthened against the background of fluctuations of oil prices in the range of $51-51,5. On the maximum cost of a barrel of Brent crude on the ICE futures exchange rose on Friday to $51,46, which is only $0.08 is above the level of the close of trading on October 20.

By 10:40 MSK cost of a barrel of Brent crude on the ICE futures exchange was $51,41, the dollar on the Moscow stock exchange reached 62,4275 Euro — 68,0025 RUB.

The main source of news for the global currency market October 20 was the meeting of the European Central Bank (ECB), the results of which “the lack of clarity regarding the prospects of tapering of stimulus by the European regulator has taken the Euro in the direction of 1.09 against the greenback and 68 against the ruble this morning,” reads the report of ROSBANK. The document emphasizes the existence of grounds for continued correction of the Euro.

On Thursday, the ECB kept its key tools of monetary policy at the level of the last seven months. The base interest rate remained at the record low level — 0%, Deposit rate — at minus 0.4 percent, the rate on margin loans is 0.25%.