The dollar exceeded 102 rubles for the first time since March 2022

The dollar exchange rate during trading on the Moscow Exchange exceeded 102 rubles. for the first time since March 23, 2022, follows from the trading platform data.

As of 14:25 Moscow time, the dollar was trading at 102.049 rubles. (+1.64%). At the same time, the euro is trading at 107,770 rubles on the stock exchange. (+1.89%), Chinese yuan – above 13.95 rubles.

The dollar exceeded 100 rubles. at the beginning of October. Before this, the American currency exchange rate exceeded this mark on August 14, 2023. Then, during trading, the American currency rose to 101.5 rubles. The dollar has not traded at this level since March 2022.

The Bank of Russia has repeatedly said that they see the main reason for the weakening of the national currency as a decrease in the export of goods in value terms (associated with a decrease in both prices and volumes) with a simultaneous restoration of imports. On August 15, the Central Bank raised the key rate by 3.5 percentage points to 12%. The reason was increased inflationary pressure and inflationary expectations, which are pressured by exchange rate dynamics. On September 15, the regulator raised the key rate by 1 percentage point to 13%.

Earlier in the Kremlin talked about the absence of reasons for concern in the weakening of the national currency and urged “not to feel so dependent on the dollar exchange rate.”

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