The euro unexpectedly strengthened against the ruble on Thursday. A few minutes before the transaction closed, its rate increased from 98.8 to 101.3 rubles. This is evidenced by data from the Moscow Stock Exchange.
As of 18:54 Moscow time, the European exchange rate reached 101.3 rubles (+2.53%), the highest level since October 23 this year. At the end of the transaction, the exchange rate dropped below 100 rubles, reaching 99.59 rubles. Against the background of the rise in the European currency, the dollar rate increased from 18:52 to 18:59 Moscow time, the American dollar managed to grow by 32 kopecks or 0.34%. At the same time, the yuan exchange rate increased by only 2 kopecks, from 12.75 to 12.77 rubles (+0.15%).
The euro grew in the absence of major stock market news. Similar anomalies regarding foreign exchange in the Russian market have occurred before. Similar situations were noted in foreign exchange trading in the spring of this year and the autumn of last year. However, there was no official statement from the regulator or the trading platform regarding these rate increases. Such sharp jumps in rates are often due to the human factor. In stock market slang, this is called a fat finger mistake (“fat finger mistake” – when a seller or buyer makes a mistake about the size of the thing bought or sold, in other words, presses the wrong button that he wanted, approx. “socialbites.ca”).
Over the past two weeks, the ruble began to strengthen after Russian President Vladimir Putin signed the decree on the compulsory sale of export proceeds on October 11. The decree will define a specific list of exporters to whom the listed measures apply from 43 groups of companies related to the fuel and energy complex, ferrous and non-ferrous metallurgy, chemical and forestry industries and grain farming.
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