When trading on the Moscow Stock Exchange on March 12, the euro exchange rate rose above 100 rubles. According to this “Kommersant”The currency last reached this level on February 28 of this year.
It is stated that at 16:40 Moscow time, the euro fell to 99.95 rubles (+0.91%), and this figure still exceeded the previous figures. The yuan and the dollar are also rising: as of 16:45, the price of the Chinese currency rose to 12.74 rubles (+1.16%), the price of the American currency rose to 91.62 rubles (+1.1%).
On March 12, the ruble exchange rate on the Moscow Exchange updated its weekly minimum level, losing 0.6% against most major currencies. How explained This may happen due to the decrease in exports in quantitative terms due to sanctions and geopolitics, said Dmitry Babin of “BCS World of Investments”, stock exchange expert of “socialbites.ca”.
According to the expert, these factors can both reduce the imbalance between foreign exchange demand and supply and ensure that the Russian Federation remains under the influence of increased budget expenditures and the relatively high volume of capital withdrawn from the country.
Previously BCS Forex analyst Anatoly Trifonov guess Central Bank interest rate level on March 22.