Translated material
Brent oil price fell below $ 43
Oil prices again strengthened the fall, after the auction on the American NYSE stock exchange opened by a decrease in 8 percent, RBC reports. The cost of a barrel of Brent oil on the ICE exchange dropped to $ 42.87. So cheap North Sea oil has not been worth it since March 2009.
Thus, the price of Brent oil for the second time a day approached its minimum values in six years. Earlier in the afternoon, the cost of a barrel of this brand of oil for the first time since March 2009 dropped $ 43.69 per barrel.
Following the new drop in oil quotes in the foreign exchange market, the weakening of the ruble intensified. The cost of the European currency on the Moscow Exchange exceeded 83 rubles per euro. The dollar continued the auction above the mark of 71 rubles.
Experts surveyed by RBC believe that the fall of the American market can lead to a sharp weakening of the ruble exchange rate - up to 75 rubles per dollar.
The US stock market completed the auction on Friday with a serious fall. At the time of closing on the New York Stock Exchange, the Dow Jones Industrial Index decreased by 3.13 percent, reaching a six-month minimum. This is the strongest weakening of the index since 2011. The S&P 500 index fell by 3.19 percent. He dropped below the mark of 2000 points for the first time since February this year. NASDAQ Composite fell by 3.10 percent.
The ruble can somewhat support the statement of Prime Minister Dmitry Medvedev that exporters will be more actively selling currency, said Sergey Romanchuk, head of the Metalinvestbank d from Metalinvestbank. “If they really start more intense sales, this can support,” he believes.
During a trip to the Kuril Islands, Medvedev said that "in the near future there will be additional foreign exchange sales from our foreign exchange exporters, which will also affect the ruble quotes."
On Friday, Barclays analysts predicted that the end of the year will reach 73 rubles. Further weakening of the ruble is facilitated by the strengthening of the dollar and a decrease in oil prices.
As the analyst of investment bank Arup Chaterji notes, the conditions for the further devaluation of the ruble create the lack of support from the Central Bank and the gloomy prospects for the growth of the Russian economy. In addition, a further moderate weakening of the ruble in the interests of the authorities, since it has a beneficial effect on budget revenues