PARNAS leader attacked during march in Nemtsov’s memorySociety & Culture February 26, 16:59
Donetsk water purification station recaptured from Ukrainian radicalsWorld February 26, 15:24
Russian skiers Ustyugov, Kryukov win team sprint at World ChampionshipsSport February 26, 15:23
Opposition activist Dadin sentenced for disorders at rallies leaves jailRussian Politics & Diplomacy February 26, 12:58
Aerospace Force chief says Russian army to get new combat jets and helicoptersMilitary & Defense February 26, 11:15
Mistura says Homs terror attacks attempt to derail Geneva talksWorld February 26, 5:49
Where to watch unique solar eclipse and spectacular ‘ring of fire’Science & Space February 26, 3:24
HNC expects Trump to correct Obama's mistakes in Syria - delegation headWorld February 26, 3:08
War on terror to dominate Geneva talks — Syrian UN envoyWorld February 25, 23:48
MOSCOW, November 14. /TASS/. The euro opened 1.4% up against the ruble to 59.07 on the Moscow Exchange on Friday while the dollar climbed by 1.3% to 47.45 as world oil prices continued to fall.
The price of Brent crude oil has fallen below $77 per barrel to $76.76, the lowest level since March 2010, according to the ICE data.
Brent prices have slumped by about 32% since June.
Formally, the ruble’s further fall could be explained by declining oil prices. However, the ruble’s current trading levels already match the scenario of persistently low oil prices for the next twelve months, VTB Capital analyst Maxim Korovin said.
“The volatility that has increased significantly is affecting the foreign exchange market liquidity very negatively, which in turn intensifies any price movements both positive and negative,” the expert said.
“The ruble is the worst performer by implied volatility among emerging market currencies: it has reached 26.1% over the month and was as high as 33% last week. Amid this background, future dynamics of the foreign currency market are quite difficult to predict,” the expert said.