At the Moscow Stock Exchange’s auction on February 8, the euro rose above 77 rubles for the first time since April 25, 2022. As of 18:27 Moscow time, it rose 1.28% to 77.34 rubles per euro. This, data Sites.
The dollar was up 1.39% at the time of trading, while the yuan was up 1.65%. The American currency traded at 72.14 rubles, Chinese – 10.63 rubles. The dollar rate at the auction on February 8 exceeded 72 rubles for the first time since January 9.
4 January euros rose The dollar, which rose to 76 rubles for the first time in 2023, cost 71.47 rubles. On December 30, the euro rate on the Moscow Stock Exchange exceeded 77 rubles for the first time since December 22. The dollar then cost 71 rubles.
Vladimir Chernov, an analyst at international investment firm Freedom Finance Global, admitted in an interview with RT on January 6 that the dollar and euro will rise in 2023. According to him, the weakening of the national Russian currency is taking place against the backdrop of falling world oil prices, so the country’s export revenues are falling.
In the second half of December, First Deputy Prime Minister Andrey Belousov aforementionedthat the “weak” exchange rate is beneficial for the Russian economy in the range of 70-80 rubles per US dollar. According to him, such a corridor is necessary to compensate the revenues of export-oriented companies.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.