The Central Bank explained how the real effective rate of the ruble increased 18:43

the central bank published A preliminary assessment of the real effective exchange rate of the ruble in 2022. We are talking about the exchange rate of the national currency to the currencies of the main trading partners of Russia, taking into account the increase in prices in the country. The real effective exchange rate of the ruble increased by 25% last year, according to the regulator.

According to the Central Bank, it increased by 8.3% in December compared to November.

At the same time, the real rate of the ruble strengthened by 18.4% against the dollar and 22.9% against the euro.

The regulator stated that the nominal exchange rate of the ruble against the US currency rose 9.2% in 2022 and 23% against the European currency.
BCS World Investments expert Yevgeny Mironyuk had previously explained to the Prime Ministry how the resumption of foreign exchange interventions by the Central Bank will affect the ruble against the dollar. The financier noted that under the new budget rule, it is likely that they will issue 80 rubles per dollar by the end of 2022, with a significant increase in the volume of currency redemptions by the state compared to the pre-pandemic period.

“If the cost of oil remains at the current level, the difference between Brent’s $90-100 a barrel (Urals $75-85 a barrel) and the estimated border price (Urals $60 a barrel) will be $15-25. The expert added that this is comparable to levels three years ago.

As previously reported by the media, Russia expects to receive $70 billion in yuan and other friendly currencies this year. Mironyuk added that if purchases start at the end of September, they will have to purchase $23 billion per month, which is a very important amount for the foreign exchange market.

The Central Bank resumed foreign exchange interventions on January 13 under the fiscal rule.