The euro rate exceeded 100 rubles during trading on the Moscow Exchange
[ad_1]
The euro rate at the opening of trading on the Moscow Stock Exchange on July 6 exceeded 100 rubles – for the first time since March 29, 2022. The dollar rate has also risen to a maximum since the end of March last year and is worth more than 92 rubles.
By 8:30 a.m. Moscow time, the euro had risen by 49 kopecks per ruble to the closing level of July 5. The dollar rate is strengthening even more — 60 kopecks per ruble.
Earlier this week, First Deputy Chairman of the Bank of Russia, Ksenia Yudaeva, linked the weakening of the Russian currency to changes in the trade balance due to a decrease in export revenue. At the same time, Yudaeva ruled out any risks for financial stability. The Bank of Russia also does not see the need to return the mandatory sale of foreign exchange earnings by exporters.
Stock market analysts associate the fall in the ruble exchange rate with a reduction in export revenue and high budget expenditures. They also indicate a low supply of currency on the market.
The rate of the Russian ruble has been decreasing for a long time. However, a sharp jump in the exchange rate occurred at the end of June after the uprising in Russia.
[ad_2]
Original Source Link
