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Dollar exchange rate up to 75.04 rubles on Forex, euro rises to 85.65 rubles

09 March 2020 17:30 (UTC +04:00)

The ruble exchange rate extended losses against the dollar on the international Forex market as of 3:00 pm Moscow time to 9.5% trading at 75.04 rubles per dollar, and to 10.8% against the euro trading at 85.65 rubles, according to the trading data, APA reports citing TASS.

Meanwhile, the price of futures contracts of Brent crude oil for May 2020 delivery fell by 22.1% since the previous closure on London's ICE to $35.26 per barrel. The lowest level reached by the oil price was $31.02 per barrel (down 31.5%).

The price of futures contracts of WTI crude oil is $31.92 per barrel (down 22.7%), with the lowest level reaching $27.34 per barrel (down 33.8%).

The oil price is falling amid the news that OPEC+ countries failed to agree on an additional reduction in oil production amid sliding demand due to the coronavirus. OPEC proposed to deepen production cuts by another 1.5 mln barrels per day until the end of this year. However, Russia and Kazakhstan opposed the proposal.