By 9:30 am Moscow time, the dollar on the Moscow Exchange reached the value of 80 rubles for the first time since April last year, the euro is trading above 87.4 rubles.
At 12:23, the euro exchange rate on the Moscow Exchange exceeded 88 rubles.
The last time the dollar exchange rate rose to this level was on April 18, 2022. The euro in the same month reached a value of 88 rubles.
This decrease in the value of the ruble, Chief Analyst of the Department of Economic and Industry Analysis of PSB Yegor Zhilnikov explained delays in export flows, increased demand for foreign currency from banks and a decrease in foreign currency sales by the Ministry of Finance against the backdrop of rising oil prices. At the same time, oil prices remain high, and the dollar is weakening in global markets.
Updated at 12:23. Added information about the euro exchange rate above 88 rubles.