The Russian currency gains value against the dollar, yuan and euro when it starts trading on the Moscow Stock Exchange. This is proven by business data. Moscow Stock Exchange.
It is stated that the price of the dollar dropped to 92.22 rubles and the Chinese yuan dropped to 12.65 rubles. The euro exchange rate dropped to 98.89 rubles.
Before that Rossiyskaya Gazeta WroteIt is predicted that the ruble may strengthen up to 90 per dollar in November due to the forced sale of exporters’ foreign currency earnings and the weakening of the dollar following the decisions of the US Federal Reserve.
At the same time, a possible escalation of conflicts in the Middle East could cause oil prices to rise to $90 per barrel.
Minister of Finance Anton Siluanov aforementionedOne of the tasks of the authorities is to make fluctuations in the dollar exchange rate predictable for Russians and businesses. According to him, the measures taken by the state to strengthen and stabilize the ruble exchange rate have worked.
Previously recognizedHow will the weakening of the ruble affect the state of the economy?