the Bank of Russia raised from the June 10, the official rate of the US dollar by 36 cents to 68,6745 of the ruble. While the single European currency gained 16 kopecks, and from tomorrow it will 77,3481 ruble.
according to head of Department of the analysis of banks and money market IK “VELES Capital” Yuri Kravchenko, “on Tuesday, the ruble is declining along with most other currencies in emerging markets.” “The period of positive mood on global financial markets was replaced by correctional moods”, says the review expert.
in his words, “the pressure on the ruble has decline in oil prices, which after rising at the end of the previous one — the beginning of the week did not manage to fully gain a foothold above $ 40 per barrel.”
we also Recall that the Russian national currency since the beginning of this year has significantly depreciated against the dollar and the Euro. Strong pressure on the rouble had a General panic in the financial markets due to the rapid spread of the pandemic coronavirus infection COVID-19 and concerns about its impact on the global economy, and a collapse in oil prices.
So, the strong devaluation of the Russian currency occurred on March 7 on the international Forex market, after the day before the deal collapsed OPEC+, — countries of the Alliance are unable to agree on cutting oil production, nor of the extension of the deal for a longer period (1 April 2020). Then, on March 9, 2020, the financial and oil markets suffered “black Monday”, and on 18 March, the market embraced a “black Wednesday” with yet another collapse of oil prices, the Russian national currency in the course of trading on the Moscow stock exchange has updated (at the time) a record low against the dollar and Euro since February of 2016, 81 and 88 million, respectively.
we Add that the real effective exchange rate of the ruble (inflation-adjusted) in April 2020 climbed 0.1% to DEPthe best currencies relative to the previous month. In this case the real rate of the ruble against the dollar fell during this period by 1.6%, the Euro by 0.6%. However, for the first 4 months of the current year the real effective exchange rate of the ruble fell by 11%, and the dollar — by 14.3%, and the Euro by 12.9%.
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