The ruble anti-record: the dollar broke the historical maximum
The official dollar rate, which the Bank of Russia set on Tuesday, was 75,95 rubles. This is the maximum value after the denomination of 1998 of the year in Russia.
The official euro exchange rate was 82,8 rubles, which is also three rubles higher than the previous value.
The ruble collapsed in the first half of the day on Monday amid falling oil prices, then the Russian currency began to regain some of the losses, but the dollar is still trading above 75 rubles.
Prices for Brent crude at auction on Monday sank by 2,2%: now oil costs about 32,8 dollars per barrel. American WTI crude oil is in the 32,5 area of dollars per barrel.
Russian President Vladimir Putin published on Monday interview told the German newspaper Bild that the fall in energy prices for Russia has not only disadvantages, but also advantages. For example, it stimulates the growth of high-tech sectors of the Russian economy, opening up “prospects for recovery.”
Morgan Stanley Bank published a forecast that oil prices could fall to 20 dollars per barrel. And in its report, Citi Bank modeled the situation in the Russian economy in case oil costs 30 dollars per barrel. Then the dollar will cost slightly higher than 71 ruble, the Russian economy will shrink by 1,5%, and prices in Russia will rise by 9,6% next year.
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