US-dollar rate exceeds 64 rubles in Russia

US-dollar rate exceeds 64 rubles in Russia Report: Dollar is expected to reach 70 rubles
November 7, 2016 12:58
US-dollar rate exceeds 64 rubles in Russia

Baku. 7 November. REPORT.AZ/ In Russia, for the first time from September 28, US dollar exchange rate exceeded 64 rubles. 

Report informs, the reasons are US dollar appreciation by 0.7% this morning against euro in international currency markets, sharp fall oil prices down to 45 USD and drop in Turkey's national currency.

Notably, ruble dropped to the minimum level on January 21, 2016. At that time, the dollar reached 86 RUB/USD level and then began to descend on the background of stabilization of the Russian economy. US-dollar in Russia reached the minimum level of 61.85 RUB/USD on October 10 this year. At present, the exchange rate of dollar 3.4% higher than minimum limit for the current year.

Analytical Group of Report believes, dollar rate in Russia will rise gradually to 70 RUB/USD: "Russia has the highest amount of foreign debt by the end of this year.In addition, depreciation of national currencies of developing countries including Turkey will increase pressure on ruble. The most important factor is associated with the fall in oil prices again".

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