Dollar rises above 75 rubles
The dollar rose by 3% during the trading session on the Moscow Exchange today to 75.16 rubles, according to trading data.
The dollar rate was at the level of 75 rubles last time on February 29, 2016.
The euro added 2.8% during the trading session and reached 84.48 rubles.
At the same time, Brent oil futures with delivery in May 2020 fell by 7.14% to $33.14 a barrel on the London-based ICE.
Head of the State Duma’s Committee for Financial Markets Anatoly Aksakov, speaking to Vestnik Kavkaza, noted that the ruble's behavior now depends entirely on the situation in the oil market. "This is due to oil prices: Brent and WTI are getting cheaper, respectively, the dollar is getting more expensive, including against the ruble. We have been observing this direct relationship between the two markets - oil and currency for several days," he said .
"But I think that the situation with the oil price will stabilize in the coming month, when agreements between Russia and Saudi Arabia could be reached, and most importantly, those who are not able to break even at this price - first of all, shale oil producers and Norwegian miners, as well as the Black Sea oil - leave the market," Anatoly Aksakov expects.