REUTERS
The Russian ruble has demonstrated the worst dynamics since the beginning of the autumn due to a decline in crude oil sales for export.
The Russian ruble plunged on Tuesday in reaction to a decline in prices of crude oil and the peak of tax payments, after which exporters sharply reduced presence on the forex market, seen by market operators as a cause behind the forced closure of prevailing short-term forex positions.
The dynamics of the ruble could have been affected by Russian Finance Minister Anton Siluanov's statement that the ministry sees risks that Russia might fall short of RUB 900 billion ($14.14 billion) in budget revenues in 2016 if the current prices of crude oil and the forex rate of the ruble stay at their current level, according to CNBC.
The dollar has hit 65.06 rubles for the first time since October 6, while it has taken the euro almost two weeks to get to 71.79 rubles.
At 17:55 Moscow time, the dollar with settlements for "tomorrow" was traded on the Moscow Exchange close to 64.74 rubles – the Russian currency has lost 2.7% in value compared to the previous close level, and the dynamics were the worst since September 1.
The euro at that time was quoted at 71.48 rubles, which was 2.6% up on the previous close level.
Brent oil was traded at about $46.7 per barrel, which was 1.8% down on recent quotations recorded on Monday, and the previous level was $46.41 for the first time since the middle of September.
Prices of oil have been falling under the pressure of excess supplies amid forecasts for the growth of U.S. oil stocks, which could increase by 3 million barrels last week.