Russian ruble rises 8 kopecks to 40.78/dlr on rising oil

MOSCOW, Oct 17 (PRIME) -- The Russian ruble has risen 8 kopecks against the U.S. dollar to 40.78 and decreased only 6 kopecks against the euro to 52.30 as of 4.15 p.m. Moscow time, supported by rising oil and a tax payment period, analysts said.

The dual-currency basket, comprising U.S. $0.55 and 0.45 euros, decreased 1 kopeck to 45.97.

Ivan Kopeikin, analyst at BCS Express, thinks the current rebound in oil prices together with the central bank’s interventions and a tax payment period can push the ruble up to 40 per dollar soon.

Bank Saint Petersburg said that on October 20 about 200 billion rubles worth of value added tax are to be paid. If the oil prices stabilize, the oversold ruble may show a moderate improvement in October-November, it said.

The Brent oil price grew 0.70% to $86.42 as of 4.27 p.m. Moscow time, continuing its Thursday’s correctional rebound.

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