The dollar exchange rate on the morning of February 17, at the start of trading on the Moscow Stock Exchange, again rose by 23 kopecks, exceeding the level of 78 rubles. By noon, the value of the American currency fell to 77.55 rubles. The European currency has also grown, adding 57 kopecks - now the euro is worth 87.31 rubles.
Today's trading day on the Moscow Exchange showed significant fluctuations in the dollar rate in the range of about 5 rubles. It is not surprising that the dynamics of the Russian currency exchange rate habitually repeats changes in world prices for oil, the Brent brand of which was trading at $ 34.8 per barrel on Wednesday morning.
There is also a tendency for the major currencies to rise in price against the ruble amid the collapse of oil prices on all world exchanges. For example, the North Sea Brent crude in morning trading in the British capital fell 0.65% to $ 31.97 per barrel, while the WTI crude fell 0.79% and now costs $ 28.81.
Freeze but not cut
Oil prices on world exchanges continued their decline due to unfulfilled expectations of investors regarding the summit of officials from leading oil-producing states. Saudi Arabia, Russia, Venezuela and Qatar, with the support of Kuwait and Iraq, have made a preliminary decision so far only to freeze the current volumes of black gold production, while there is no question of reducing its production.
On February 16, immediately after the end of the meeting between Russian Energy Minister Alexander Novak and the "oil" Saudi Minister Ali al-Nuaimi, the ruble fell by 49 kopecks. The reason is clear - the leading oil producers refused to curtail the rate of oil production.
It should be noted that Azerbaijan did not support the signed agreement at all, while Iran did it with a vague clause that in any situation it does not plan to lose its own share in the world's hydrocarbon market.
As of February 17, the Bank of Russia announced the official online dollar rate - 76.24 rubles, however, apparently, tomorrow the rate will be adjusted upward.
No compensation
Against the background of the weakening of the national currency, the State Duma refused to support the draft law of the communist deputy Alexander Potapov, who proposed to compensate for the financial losses of the Russian population from the rapid collapse of the ruble.
The Financial Market Committee indicated in its commentary that the Duma member did not provide financial sources for the implementation of the program in his project. In other words, the treasury now does not provide funds for such measures, and indeed to redirect money from the budget to strengthen the purchasing potential of the ruble, as stated in the conclusion of the commission
