MOSCOW, September 16. /TASS/. The Russian stock market saw a moderate decline at the end of the week. By the end of trading on Friday, the MOEX index decreased by 0.47% to 2,435.18 points, the RTS index dropped by 1.01%, to 1,275.03 points.

The Friday factor and the negative external background had a restraining effect, while the weakening of the ruble supported the shares of exporters.

The dollar exchange rate at the end of the day rose by 0.47% up to 60.27 rubles, the euro rate went up by 0.03%, up to 59.81 rubles.

"Markets are becoming more cautious as the date of the Fed meeting approaches. On September 21, the Fed is expected to raise its rate by 75 b.p., while there is a possibility of a 100 b.p. increase," said investment strategist at BCS World of Investments. Alexander Bakhtin.

In Russia, the main event of the day was the meeting of the Bank of Russia's Board on the key rate. As expected, the regulator lowered it by 50 bp. p., up to 7.5%. "Reducing the key rate is positive for the stock market, because, firstly, it makes credit resources more accessible, reduces the cost of debt service. Secondly, due to a decrease in yields on deposits and bonds, investors' interest in dividend stocks increases. Thirdly, the reduction of the key rate is a factor that weakens the ruble, and devaluation movements, as a rule, lead to a positive revaluation of the shares of exporters that occupy more than 60% in the Moscow Exchange index," Bakhtin explained.

According to BCS World of Investments, on September 19, the MOEX Index will be within the range of 2,390-2,500 points, the forecast range for the dollar-ruble pair is 58.5-61 rubles.