At the opening of trading on the Moscow Stock Exchange on December 5, the dollar/ruble exchange rate fell by 12.25 kopecks compared to the closing level of the previous transaction, amounting to 90.8 rubles. TASS.
At the same time, the euro exchange rate fell by 47.5 kopeks to 98.02 rubles.
In turn, the Chinese yuan exchange rate increased by 0.55 kopecks to 12,738 rubles.
Moreover, after a while, at 7:44 Moscow time, the European exchange rate accelerated its growth and was at 99.22 rubles (+0.73%); thus, it exceeded 99 rubles for the first time since November 7.
The American currency reached 91.46 rubles (+0.58%), while the Chinese currency reached 12,798 rubles (+0.51%).
The Central Bank of Russia reported that against the background of the weakening of the ruble in July-September this year, Russian individual investors began to sell the currency on the stock exchange instead of buying it. The volume of foreign exchange purchases in rubles began to practically correspond to the volume of sales. Net foreign exchange sales during the specified period amounted to 4 billion rubles. The fact that foreign exchange sales exceeded purchases helped reduce the pressure on the ruble exchange rate.
Previously recognizedHow will the weakening of the ruble affect the state of the economy?
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.