In the course of trading on the Moscow Exchange, the euro exchange rate exceeded 100 rubles for the first time since March 29, 2022, by 07:23 Moscow time, the currency was trading at the level of 100.31 rubles.
At 7:25, the euro exchange rate was 99.98 rubles, but later increased again to 100.1 rubles. The dollar at 07:20 was trading at 92.17 rubles — for the first time since March 28, 2022, follows from the data of the Moscow Exchange. By 10:30 a.m., the euro exchange rate on the Moscow Exchange exceeded 102 rubles, and the dollar — 93 rubles.
The head of the Central Bank of Russia Elvira Nabiullina explained the reasons for the fall of the ruble «the dynamics of foreign trade.»
Yesterday at half past three, the dollar on the Moscow Exchange briefly exceeded 90 rubles, while the euro for a longer period of time was traded at a price of over 98 rubles.
The day before, Deputy Chairman of the Central Bank Ksenia Yudaeva linked the fall of the ruble with a change in the trade balance: “We see a significant reduction in the current balance in this year compared to last year and the last quarter, this is also due to a decrease in export earnings, and, in my opinion, the price reduction had an effect.” At the same time, Yudaeva ruled out “any risks to financial stability.”
Chief Economist for Russia and the CIS at Renaissance Capital Sofya Donets suggested in a conversation with Forbes that the weakening of the ruble may be due to the outflow of capital — this, among other things, could be affected by news related to the restriction of crude oil exports.
Since June 23, against the backdrop of the Prigozhin rebellion, RBC noted, banks and crypto exchanges began to increase the dollar and euro against the ruble.
After the mutiny. Consequences
Updated at 11:10: added comment by Nabiullina and information on exchange rates at 10:30 am.