Exchange rate of the Euro for the first time since the end of April exceeded 84 rubles

the Russian national currency during today’s trading on the Moscow exchange is trading mixed in pairs with the US dollar and the Euro, the single European currency for the first time since April 22, overcame 84 rubles.

as of 15:50 Moscow time the dollar calculations “tomorrow” dropped to 10.5 71,63 penny to the ruble, and the Euro jumped to 54.5 cents to 84,10 of the ruble, according to data exchanges.

As noted by analyst IK “VELES the Capital” Elena Kozhuhova, “the ruble to the middle of the session showed no single dynamics and change in the range of 0.5% to the dollar and the Euro.” “The Euro continued to renew the highs from the end of April,” says the review 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 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 June 2020 rose 2.9% against foreign currencies relative to the previous month. In this case the real rate of the ruble to USDLara 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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