Dollar-to-ruble rate grows to 72.5 rubles on Forex

Dollar-to-ruble rate grows to 72.5 rubles on Forex

The dollar-to-ruble rate on the international Forex market rose on Monday since the previous closure by 3.93 rubles and amounted to 72.5 rubles, according to the trading data.

The euro-to-ruble at Forex increased compared to the closing level of previous session by 4.89 rubles and amounted to 82.4 rubles.

A sharp jump in the dollar and the euro against the ruble occurred amid the reports that the cost of May futures for Brent crude oil on the ICE Exchange in London fell to $31.02 per barrel, TASS reported.

By 01:25 Moscow time, Brent partially won back its fall, the price of futures rose to $35.23 per barrel. The cost of the April futures contract for WTI crude oil fell by 27.1% to $32.48 per barrel.

Oil price is falling amid news that OPEC+ countries failed to agree on an additional reduction in oil production amid falling demand due to coronavirus. At the meeting in Vienna, OPEC proposed to further reduce production by 1.5 million barrels per day until the end of this year. However, Russia and Kazakhstan opposed this proposal. Russia, in particular, insisted on the extension of the current agreements only for the second quarter.

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