The main reason for the strengthening of the Russian ruble was the increase in the prices of energy resources and the transition to the ruble when paying. Reported by this TV channel GIS With reference to Oxford Economics experts.
In early May, Bloomberg wanted The ruble is the best among the world’s major currencies in terms of strengthening against the US dollar. It was noted that this was facilitated by the measures taken to control the capital.
According to OE expert Tatyana Orlova, although Russia’s energy exports have fallen due to the embargo and sanctions, growth in commodity prices will significantly offset this decline.
He added that Russia receives about $20 billion each month from the sale of its energy resources. Since the end of March, many foreign companies accepted Moscow’s request to pay rubles for energy, which affected the further appreciation of the value of the Russian ruble.
“All these factors create demand for the ruble, increasing the value of the currency,” says CBS.
At the end of March, Russian President Vladimir Putin signed a decree on gas trade with unfriendly countries (this list includes all EU countries) obliges these states to pay for energy resources in rubles.
Source: Gazeta
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