The euro exchange rate exceeded 59 rubles

The euro exchange rate on the Moscow Exchange rose above 59 rubles, having added more than one and a half rubles in a day. The dollar is trading at 47.2 rubles, almost a ruble above the closing level of previous trading.

The official euro exchange rate, set by the Central Bank of the Russian Federation on November 27, increased by about 2 rubles and reached 57.9 rubles. The dollar exchange rate was raised by one and a half rubles to 46.42 rubles.

• Market participants attribute the new fall in the ruble exchange rate to reports that at the OPEC summit on November 27, oil-exporting countries will refuse to reduce supplies in order to increase prices for raw materials. On the stock exchange in London on November 26, Brent oil is traded at $78 per barrel, and during the auction the price fell to $77.5.
• The depreciation of the ruble accelerated in autumn 2014. In early November, the Central Bank of the Russian Federation switched to a free exchange rate formation, abolishing the dual-currency basket corridor and stopping regular interventions at its borders.
• During October, the Central Bank spent about $30 billion to support the ruble.