The dollar exchange rate dropped below 97 rubles

The dollar exchange rate on the Moscow Exchange fell below 97 rubles for the first time since October 12, as follows from trading data.

As of 17:22 Moscow time, the dollar was trading at 96.91 rubles. (-0.49%), and the euro – 102.5 rubles. (-0.1%).

The Central Bank lowered the official dollar exchange rate on October 20 by 6.5 kopecks to 97.3 rubles, and the euro by 28 kopecks to 102.62 rubles.

According to the regulator, the real effective exchange rate of the ruble for the first nine months of 2023 decreased by 29.7%, in September it grew by 0.2%.

How wrote Earlier, Vedomosti, the Central Bank identified five factors that help stabilize the ruble exchange rate. These include an increase in the rate, a refusal to purchase foreign currency on the domestic market within the framework of the budget rule, the development of a mechanism for converting national currencies used in external payments, a new export duty linked to the exchange rate, as well as sales of currency as part of mirroring investments from the National Welfare Fund.

On October 11, it became known that Russian President Vladimir Putin signed decree on the mandatory sale of proceeds in foreign currency received by individual Russian exporters under foreign trade agreements. The goals of the innovation are to create long-term conditions for increasing the transparency and predictability of the foreign exchange market and reduce the possibility of currency speculation.

According to the forecast of socio-economic development for 2024 and the planning period of 2025 and 2026, by the end of 2023 the ruble will strengthen at around 94 rubles/$, in 2024–2026. – at the level of 90-92 rubles/$. It is expected that inflation growth will slow down to 4.5% by the end of 2024, and reach 4% in 2025.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button