The ruble continued falling due to a decrease in oil prices. During Thursday's trade at the Moscow Stock Exchange, the Russian currency plunged below the level of 64 rubles against the US dollar for the first time since February. The euro exceeded the mark of 70 rubles. Experts explain such a rapid decline by the situation on the world oil market. A sharp drop in oil prices leads to a rapid weakening of the Russian currency and may pose a threat to its financial stability. As a result, the central bank may cease the lowering of interest rates and wait for the stabilization on oil and currency markets. "Oil price is still close to the psychological level of $50 per barrel which is why the U.S. currency has strong chances of appreciating to RUB65. Moreover, interbank market participants show no interest in ruble liquidity, the price of which remains at the lowest level since the beginning of December 2014," Veles Capital senior analyst Yury Kravchenko noted. However, there is good news. The cost of Brent oil has stopped falling as the market got an upbeat signal - the US crude oil and gasoline stocks fell last week. As a result, Brent crude oil price has not only stopped dropping, but it is trading 20 cents higher at $49.86 a barrel after a daily high of $50.39 per barrel. It should have a positive impact on the Russian currency exchange rate.
