The current exchange rate of the ruble against the dollar and the euro indicates that there is an inflow of foreign currency into the domestic market. BCS World of Investments stockbroker Dmitry Babin told socialbites.ca.
“The trend in the second half of August continues: Major currencies are rising moderately against the ruble and falling significantly each time after the local tops are updated. This shows that the foreign exchange supply is insufficient. However, considering that the ruble exchange rate did not accelerate its decline after the end of the tax period, as it did in the previous two months, it still increased,” he said.
The ruble fell sharply in early trading, hitting a two-week low. The dollar exceeded 96.7 rubles, the euro exceeded 105.6 rubles, and the yuan exceeded 13.2 rubles. However, the ruble quickly recovered, recouping almost all of today’s losses, and appreciated against the euro despite the decline in global quotes.
According to the Moscow Stock Exchange, at 14:48 Moscow time, the dollar is trading around 96.37 rubles and the euro at 104.85 rubles. The yuan exchange rate is 13,199 rubles. Babin before that announced socialbites.ca said that geopolitics and sanctions do not allow the ruble to strengthen significantly.
Previously it happened It is known how many Russian companies have suffered from the depreciation of the ruble.
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.