For the first time since 2020, the official value of the dollar in Russia crossed the mark of 63 rubles. The domestic currency is growing against the backdrop of high prices for raw materials and the sale of proceeds by export companies.
At Friday’s opening of trading, the US dollar lost more than 1% of its value and dropped to the level of 62.62 rubles. This is confirmed by the data of the Moscow Exchange. The last time the dollar fell below 63 rubles at the beginning of the coronavirus pandemic and lockdowns around the world.
The value of the euro also fell – by about half a percent. Now it is a little less than 65 rubles. The European currency last fell so low on the Moscow Exchange in the summer of 2017.
The growth of the ruble exchange rate is facilitated by the ratio of supply and demand for foreign currencies in Russia. Importers have significantly reduced the need for foreign currency, and exporters offer it in large quantities. According to experts, the volatility of currencies remains at medium levels. According to forecasts, the ruble will continue to strengthen in the short term. Representatives of the Moscow Exchange reject the accusations of some analysts that the exchange rates on the site are set incorrectly.