Ruble became one of the main winners from the rise in oil prices, Bloomberg writes. In addition to the Russian currency, the Canadian dollar and Norwegian crowns became the beneficiaries of raw rheumatization.
Courses of all three currencies rose on average three percent to the US dollar after the price of Brent oil has exceeded $ 70 per barrel. Bloomberg’s previous studies have shown that the ruble usually grows by 1.6 percent, the Canadian dollar is 2 percent, Krone is 1.3 percent. Russia and Norway are trying to prevent a strong rise in price of their currencies against the background of increasing oil prices, directing additional oil and gas revenues to the national welfare fund and in the sovereign foundation, so the strengthening of the ruble and crown turned out to be unexpected.
The sensitivity of the specified currencies to the cost of oil has become a good news for investors. Usually, the ruble would rise by 2.3 percent to the dollar, when oil was fixed in the range from 80 to 100 dollars per barrel.
On the eve of Russian President Vladimir Putin, as part of the session of the Russian energy week, made a rise in price of oil to 100 dollars per barrel. At the same time, Russia does not seek to limit oil production so that the cost of “grown to heaven,” said the head of state.