The Bank of Russia has lowered a dollar exchange rate below 78 rubles

the Official dollar exchange rate on Thursday reduced from 78,85 77,79 ruble to ruble. The official Euro exchange rate, the Central Bank lowered from $ 85,43 84,15 ruble to ruble.

Photo: EPA-EFE/ETIENNE LAURENT USA Oil companies began to cut staff salaries

In the first half of the day on Wednesday, the ruble strengthened against the dollar and the Euro on the stock exchange, but after the weakening of both currencies in the range of 20-40 cents. As of 15.20 GMT the dollar was trading near the 78.5 ruble, the Euro is about 85 rubles. Wednesday afternoon after a morning of growth began again to decline, oil prices – a barrel of Brent became cheaper by almost 4% and was close to 26 dollars.

the External conditions (oil prices and investor sentiment towards risky assets) will continue to define dynamics of the Russian currency, says the head of analytical Department of Bank “St.-Petersburg” Andrey Kadulin. In the medium term he expects strengthening of the ruble from the current levels, but admits that in the short term, the course may return in the range of 78-80 rubles. Moderate risks of a new wave of sales continues, but the rate of the Bank of Russia to keep the ruble from a significant weakening, and measures the largest regulators to support financial markets around the world, which affects the demand for Russian assets, said Kazulin.