Named the reasons for the sharp collapse of the euro

Artem Tuzov, Executive Director of the Capital Markets Department of IC Univer Capital, told the agency: “Hitting the Primer”He said a significant drop in the euro exchange rate was due to a drop in imports from the European Union (EU), the switch to gas payments in rubles, and a drop in traders’ interest in the European currency.

According to the expert, imports from the EU to Russia decreased by more than half. In addition, Tuzov reminded that more than 20 European buyers have already started to pay for natural gas in rubles.

The gas exporter represented by Gazprom sells 100% of its foreign currency earnings. In addition, the exchange rate of the ruble against the euro is affected by changes in the balance of supply and demand in the global foreign exchange market.

According to him, the Central Bank of Russia and the Ministry of Finance have to limit the decline of the European currency in order to protect the income of exporters.

Earlier, it was reported that the euro rose. fallen Up to 66 rubles for the first time since June 2017. According to the US agency Bloomberg, the Russian ruble strengthened against the US dollar, becoming the best among the world’s major currencies, thanks to measures taken to control capital. Russian authorities limited the circulation of foreign currencies after the start of a special military operation in Ukraine.



Source: Gazeta

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