Currently, the dollar is quoted around 62.62 rubles in some Google currency feeds, while the euro continues to hover above 102 rubles. These figures reflect a mix of online sources and real-time market data that traders monitor closely during daily exchanges.
According to the Moscow Exchange, the closing level for foreign exchange trading, observed at 18:50 Moscow time, put the dollar at 97.39 rubles. This snapshot captures the end-of-day settlement that traders and institutions reference when assessing short-term movements and liquidity in the ruble market.
Earlier, Denis Perepelitsa, an associate professor at the Department of Global Financial Markets and Fintech at the Russian University of Economics, noted a forecast for the ruble in late 2023. He anticipated a dollar range of about 92 to 95 rubles, highlighting how policy measures can influence currency trajectories. Perepelitsa pointed to a decree that governs the compulsory sale of foreign currency earnings by Russian exporters. The policy is designed to give the government room to regulate when and how much exporters convert and bring back into ruble-denominated circulation, thereby aiming to curb excessive ruble depreciation during volatility in international markets.
On October 11, President Vladimir Putin signed a decree implementing this framework. The measure applies to 43 groups within sectors such as fuel and energy, ferrous and non-ferrous metallurgy, forestry and chemicals, and grain production. Although the decree did not release every company name publicly, the government clarified that exporters must convert a substantial portion of their foreign exchange earnings into rubles by transferring 80 percent to domestic accounts and selling 90 percent of that amount in the Russian market, reinforcing domestic currency supply in the process. Analysts and market watchers have described this as a key step in aligning export dynamics with macroeconomic stability, especially amid global demand shifts and geopolitical uncertainties. (Attribution: Kremlin press briefing and central bank commentary)
Against this backdrop, questions have arisen about whether it makes sense for individuals to buy currencies from neighboring countries. Market participants weigh factors such as policy signals, currency reserve trends, and the broader trade climate when considering diversification. While policy levers can influence short-term moves, longer-term decisions typically depend on inflation expectations, interest rate paths, and the evolving balance of payments. Investors and households often look for clarity on how these measures affect savings, loans, and everyday purchases, seeking to understand the practical impact of capital controls and local market liquidity on personal finances. (Attribution: monetary policy briefings and market analysis summaries)