The dollar exchange rate on the Moscow Stock Exchange fell below 92 rubles for the first time since October 31. This is proven by: data tender
At 14:52 Moscow time, the dollar rate for “tomorrow” payments fell by 28 kopecks to 91.98 rubles, the euro fell by 52 kopecks to 98.16 rubles, the yuan fell by 5 kopecks to 12.63 rubles.
November 7, head of Sberbank German Gref statedThe basic exchange rate of the ruble is currently at 85-90 rubles per dollar.
existed before named Positive factors for the strengthening of the ruble. According to Maxim Timoshenko, director of the operations department of Russian Standard Bank, the decision of the Central Bank of the Russian Federation to further increase the key interest rate will help slow down inflation and strengthen the national currency. Tymoshenko also believes that the ruble is supported by high oil prices and forced sales of companies’ export earnings. The Russian Ministry of Finance’s intention to increase foreign exchange purchases within the framework of the budget rule will also have a positive impact.
Alexander Potavin, formerly Finam Financial Group analyst statedIt may be premature to buy dollars in an environment where the ruble exchange rate is strengthening. It is possible that the Russian currency will continue to rise against the American currency and by the end of the year the dollar will cost 90-96 rubles.
Formerly investment strategist explained Sharp strengthening of the ruble exchange rate following the decision of the Central Bank.