The latest data show the ruble slipping to 94.87 per dollar while the yuan sits at 12.97 against the ruble, with trading activity centered on the Moscow Stock Exchange.
In next-day settlements, the dollar moved higher by 0.61 rubles to 94.87, the yuan rose by 0.07 rubles to 12.97, and the euro climbed by 0.13 rubles to 102.65. These shifts reflect a market adjusting to shifting energy flows and evolving risk perceptions across major economies.
Vladimir Grigoriev, a former candidate of economic sciences and a noted finance expert, suggested that the euro could lose value relative to the dollar in the near term. This view hinges on how currency markets price relative growth and energy dynamics in Europe.
From Grigoriev’s perspective, the European economy had benefited for years from abundant and cheap energy resources, especially oil and gas. The European Union previously sourced these commodities from Russia at favorable prices. That arrangement has changed as Europe increasingly sources gas from other regions, including the United States, where prices have been more volatile and often higher. The analyst warned that if European energy costs stay elevated for two to three years, sustaining the current level of expenditure would become impractical for many economies within the bloc.
Beyond energy costs, European military spending has risen, driven in part by the flow of arms to Ukraine. This broad shift in defense outlays adds another layer of financial pressure to European budgets and to the economy as a whole.
Grigoriev also noted that cutting aid for poorer countries in Eastern Europe could feed back into European economic challenges, highlighting the interconnectedness of regional fiscal policies and global economic stability. The discussion encompassed how a weakening ruble might influence the broader economy, including inflation expectations, import costs, and investment confidence. The evolving currency dynamics thus sit at the center of ongoing debates about growth prospects, policy choices, and regional resilience in the face of energy market realignments and geopolitical developments.