Russian ruble, stock market continue falling following drop in oil prices

The collapse of the Russian ruble, which showed on October 27 the worst dynamics this autumn due to the decline in export sales and the price of oil, continued on Thursday, October 29.

!!!!!!!!!!!!!!!! UAA1 !!!!!!!!!!!!!!!

According to the Moscow Stock Exchange, at the beginning of trading the dollar rose by 25 kopiykas up to RUB 64.19, the euro rose by 37 kopiykas up to RUB 70.19.

Russia's stock market also opened with a decline.

The MICEX index dropped by 0.07% to 1725.33 points.

The RTS index fell by 0.74% to 848.38 points.

Tomorrow's Board of Directors of the Bank of Russia is in the spotlight - the regulator will choose between fighting against inflation and promoting economic growth.

Read alsoRussian ruble resumes its declineAlthough, the regulator is likely to leave the current level of the key annual rate at 11%, the risks of its decline still exist, and it's formally playing against the ruble on the background of a high probability of the U.S. Fed tightening policy in December after yesterday's rhetoric of the American regulator.

!!!!!!!!!!!!!!!!!!!!!!!! UAA2 !!!!!!!!!!!!!!!!!!!!!