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 OPEC's Decision Triggered Fall of Ruble to New Historic Low

US dollar and euro rate reached absolute maximum today during Moscow stock exchange evening trading due to OPEC's decision not to reduce oil production quotas.

The dollar exchange rate was 48.655 rubles for 1 dollar at 07:28 p.m. Moscow time, rising by 1 ruble 26.7 kopecks to the previous close level, updating historic high, Censor.NET reports citing Interfax.

The euro exchange rate at the same time was 60.75 rubles for 1 euro (new ultimate maximum reached), which is 1 ruble 53.3 kopecks above Wednesday's closing. The cost of the currency basket ($ 0.55 and EUR 0,45) increased by 1 ruble 39 kopecks and reached 54.10 rubles. Thus, the dollar and euro updated their historic highs against the ruble, established Nov 7.

OPEC decided Thursday to keep its oil production quotas unchanged. Consequently, the cost of a barrel of Brent crude dropped below $72, WTI - below $68.

Read also: OPEC Refused to Support Russia: Oil Production Will Not Be Reduced

 
 
 
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