Established official rates of dollar and Euro for the weekend

the Central Bank of Russia increased from 23 may (weekend and Monday, may 25) the official rate of the US dollar from almost 96 cents to 71,8804 of the ruble. While the single European currency gained almost 65 cents, and tomorrow it will 78,4431 ruble.

Meanwhile, in the course of trading on the Moscow exchange, the Russian national currency is weakening in both pairs, and earlier in the session the dollar exchange rate even exceeded 72 rubles. However, after noon the rate of reduce slowed down, especially against the background of statements of the President of the Bank of Russia Elvira Nabiullina.

So, said the PRIME, the dollar exchange rate calculations “tomorrow” on 13:36 GMT increased by 70 cents to 71,67 of the ruble, and the Euro 39 cents to 78,09 of the ruble. However, before the press conference, the head of the Central Bank, the ruble lost 20 to 30 cents more to the main reserve currencies.

Nabiullina, in particular, pointed out that the temporary proinflationary factors was less than expected by the regulator and it has the potential to further reduce the key rate.

the economist “BCS Premier” Anton Pokatovich believes that “in the short term, the ruble will be formed in the range of 70 to 73 rubles to the dollar and 77 to 79 rubles per Euro.” “Some support for the rouble will render the period of tax payments due to the increased demand for the national currency”, — stated in the review of the expert.

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 additional reducedAI 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 March 2020 fell by 11.4% against foreign currencies relative to the previous month. In this case the real exchange rate of the ruble against the dollar fell during the reporting period, by 12.2% against the Euro by 13.4%. For the first quarter of the current year the real effective rouble rate decreased by 11.5%, to USD — by 13.3%, to Euro — by 12.5%.

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