the Official rate of dollar established by Bank of Russia since July 21 raised by about 25 cents to 71,9628 of the ruble. While the single European currency gained almost 71 penny, and tomorrow it will 82,3902 ruble.
according to head of Department of the analysis of banks and money market IK “VELES Capital” Yuri Kravchenko, “after a very unsuccessful last week, on Monday, the ruble began with a neutral dynamics against the dollar and further weakness against the Euro”. “In General, the ruble is still not too favourable background, not so much due to the acceleration in world growth of coronavirus how many periodic outbreaks of anti-Russian rhetoric with the West threatening increased sanctions risks,” the review says an analyst.
At the same time, experts of the Academy of management Finance and investing, Gennady Nikolaev, “the factor of support is launched fiscal period: the coming days, the exporters will exchange foreign currency revenues for budget allocations”.
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, — RussiaSkye 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 June 2020 rose 2.9% against foreign currencies relative to the previous month. In this case the real rate of the ruble against the dollar rose during this period by 5.2%, to Euro — by 1.7%. However, for the first 6 months of the current year the real effective ruble exchange rate decreased by 5%.
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