Photo: Mikhail Voskresensky / RIA Novosti
In early trading on the Moscow stock exchange on Monday, 8 June, the ruble against the major currencies, soared to highs since early March, according to the site.
As of 10:57 the dollar traded at 68,23 ruble and Euro — ruble 77,12. The last time this level was recorded on March 6, when it became known about the conflict between Russia and Saudi Arabia and the collapse of the transaction in the format of OPEC+.
The main Russian index, the RTS Masuria and also added in early trading — 0.7 and 1 percent, respectively.
The current growth of the Russian currency is associated with the market’s confidence about the future of oil. At the weekend the OPEC countries agree on the preservation of quotas on oil production level of 9.6 million barrels per day. Approved in April the deal was supposed that since July, the reduction will fall from 9.7 million to 7.7 million.
Against this background, the price of Brent crude rose to 42.83 per barrel, and WTI at almost $ 40. The market can give and Saudi Arabia’s decision to cancel record discounts for customers introduced in April.
Video, photo All from Russia.