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Ruble keeps on falling after reports that Trump signs law on sanctions against Russia

August 02, 18:01 UTC+3

As of 5:40 pm Moscow time, the dollar rate on the Moscow Exchange rose by 40 cents to 60.75 rubles

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© Dmitriy Rogulin/TASS

MOSCOW, August 2. /TASS/. The ruble continued to weaken against the dollar and the euro after reports that US President Donald Trump signed a law that was earlier adopted by the Congress that provides for stricter unilateral US sanctions against Russia, Iran and North Korea.

As of 5:40 pm Moscow time, the dollar rate on the Moscow Exchange rose by 40 cents to 60.75 rubles. At the same time earlier, today the dollar rate reached a mark of 60.78 rubles. The euro rose to 72.01 rubles, which is 74 kopecks above yesterday's closing.

Earlier today, before the announcement of Trump's decision to approve anti-Russian sanctions, the euro rate on the Moscow Exchange rose to 72.04 rubles.

The Russian currency is weakening amid a decline in oil prices.

The cost of futures contract for Brent crude with delivery in October 2017 fell by 0.6% to $51.47 per barrel at the ICE in London.

Oil price is falling amid the data on oil stocks in the US. In particular, the data of the US Department of Energy showed that commercial oil stocks in the US declined by 1.5 million barrels from July 21 to July 28 to 481.9 million. At the same time, analysts interviewed by Bloomberg expected the oil stocks to decrease by 2.96 million barrels.

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