The Russian national currency depreciates, the dollar has exceeded 72 rubles

the Russian national currency during today’s trading on the Moscow exchange significantly weakened in pairs with the Euro and the dollar, and the dollar has risen above 82 rubles.

as of 12:01 Moscow time the dollar calculations “tomorrow” increased by 37 kopecks to the previous close to 71,9525 (earlier in the session reached 82.1 per ruble), and the Euro gained 25 kopecks and reached 84,3250 of the ruble, according to data exchanges.

As the Director of the Academy of management Finance and investment Arseniy Dadashev, “the situation of coronavirus is still poor, and in some countries resumed the quarantine restrictions, which is a direct threat to the recovery of demand, especially for gasoline.”

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. The real 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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