Russian ruble falls amid declining oil prices

The exchange rate of the dollar against the ruble in early trading on the Moscow stock exchange on Tuesday rose by 17 cents to RUB 58.91 to the dollar, while the euro gained 10 eurocents to reach RUB 64.37 to the euro, according to Russian news agency TASS.

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The ruble has again demonstrated a strong link to oil price trends. May futures for Brent, the global benchmark, on London's ICE Futures earlier fell by 0.6%, to $55.6 per barrel.

The MICEX index at the opening of Tuesday trading on the Moscow Stock Exchange fell by 0.2% to 1599.55 points.

As UNIAN reported earlier, oil prices started falling after the publishing of comments by Saudi oil minister Ali Al-Naimi that oil prices were unlikely rebound to $100 again, and that high oil prices were not in the interests of OPEC.

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