Expert: The fall of ruble due to fall in oil prices will continue

On August 24, within a few hours of trading on the stock exchange, the rate of the dollar rose to 17,601 rubles, the euro - up to 19,938. According to a senior financial analyst of Alpari, Vadzim Iosub, it was a result of the fall in world oil prices:

"Qualitatively, nothing new happened today. The trend of the last few days continues. It's about the falling oil prices and as a consequence - the fall of the ruble. The Brent oil today went below $44 per barrel. It cost as little at the end of 2008 - early 2009," said Mr Iosub.

According to the expert, in the near future, oil price increases should not be expected. Rather - quite the opposite. And it can bring about a new devaluation of the Belarusian ruble:

Mr Iosub: "It this the bottom or not? We can make quite an unambiguous conclusion that as long as oil price falls down, the decrease of the Russian rouble rate will continue. And it will be followed by the rate of the Belarusian rouble. In the oil market nothing shows that the bottom has been reached and that the oil price will start to grow. This means that in the coming days we can see the next new max rate of the dollar and the euro."

Trading on the currency and stock market will continue on Tuesday morning, August 25, and will end at 12:00 hours. Based on their results, the National Bank will announce new rates.