On Tuesday, August 13, the yuan exchange rate rose above 13 rubles for the first time since mid-October 2023. This is evidenced by data from forex trading.
As of 12:00 Moscow time, the yuan was worth 13.05 rubles (+4.34% from Monday’s close). At the time of publication, the daily maximum was 13.0734 rubles.
At the same time, the ruble fell against the dollar. The U.S. currency was trading in the range of 90.97-93.62 rubles on Tuesday.
Anton Pustovoitov, head of fixed-income management at Pervaya Management Company, said the ruble’s weakening is related to the end of the tax period. The Russian currency is supported by problems with cross-border payments, limited imports and capital outflows, and high interest rates on ruble instruments.
Analysts exclusionIt is estimated that in the fall the dollar exchange rate could reach 100 rubles, but this scenario is unlikely. Most likely, the American currency will cost 90-95 rubles.
Previously India and Russia I wanted to upload The basic rupee-ruble exchange rate to circumvent sanctions.
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Source: Gazeta
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