The Central Bank of Russia Adjusts Official Currency Rates and Market Impacts
On Friday, the Central Bank of the Russian Federation lowered official rates for the dollar and the yuan based on controller data. The dollar rate dipped by 12.05 kopecks to 97.2794 rubles, while the yuan softened by 1.51 kopecks to 13.459 rubles. The euro, meanwhile, rose by 26.66 kopecks to 107.1563 rubles as part of the day’s adjustments.
Official exchange rates are set on business days using the Moscow Stock Exchange market rates. By 18:13 Moscow time, the stock market showed the dollar at 97.5525 rubles, up 0.37 percent from the opening trade. The euro was around 107.58 rubles, up about 0.945 percent, and the yuan moved slightly higher by 0.034 percent with the Chinese currency at roughly 13.446 rubles.
Analysts weighed the ongoing imbalance in the Russian foreign exchange market as a factor in supporting the ruble under current conditions. Dmitry Babin, an expert associated with the exchange socialbites.ca and BCS World of Investments, noted that the supply of foreign currency within Russia remains tight while demand climbs, creating persistent pressure on the ruble. He observed that the Bank’s decision to pause purchases of foreign currency from the domestic market through the end of the year aided the ruble, but he warned this measure alone is unlikely to reverse the trend quickly.
A key political voice, State Duma Deputy Chairman Alexander Babakov of the Fair Russia – For Truth faction, argued for stronger measures to restore foreign exchange earnings and tighten foreign exchange control. His position reflects ongoing concerns about currency stability and the broader impact on the economy.
Earlier references described the ruble’s status with phrases such as the “six” of the ruble, signaling a period of notable volatility and discussion around how official policy and market dynamics interact to shape the currency’s trajectory. Analysts continue to watch foreign currency supply, policy signals, and balance of payments trends as the ruble navigates these shifting conditions.