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The Russian ruble appreciates the rise in oil futures



The jobs report in the U.S. will be the determining factors for the formation of the dynamics of the US dollar on the world currency market.



05.Aug.16 6:31 AM
By Svetlana Zaytseva
Photo INNOV.RU

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The Russian ruble appreciates the rise in oil futures
On Friday, August 5, 2016 the Bank of Russia has established the following official exchange rates: the US dollar 66,3941 rubles, Euro - 73,9232 of the ruble. However, by the end of the trading session on the Moscow exchange Russian ruble actively strengthened against the other major currencies. The dollar fell to 65,79, and the Euro 73,19.

In the second half of last Thursday, oil futures showed a marked increase, which was the driver for purchases of the national currency. So, the October futures of North sea Brent reached the level of $44.34 a barrel, continuing to demonstrate a dramatic rebound, formed a day earlier. The decline in production and reduction of stocks of gasoline in the US has given impetus to the increase in oil prices after a prolonged decline in July.

Reports on US employment, which will be published at 15:30 GMT, will be determining factors for the formation of the dynamics of the US dollar on the world currency market. In the first half of day the pair dollar/ruble, most likely, will be traded in the range 64,75 65,75.



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