Ruble is going up....

Monday, May 25, 2020

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The weighted average dollar exchange rate was RUR29.13 this afternoon on the Russian currency market, and the low on dollars was RUR29.11. This was respectively RUR0.01 and RUR0.03 lower than the official dollar rate set by the Central Bank for January 9. This denotes continuing strengthening of the ruble rate in Russia due to policies of the Russian Central Bank that stopped supporting the dollar. Analysts report that the bank is not interfering in the currency trade and conducts no ruble interventions. The dollar lost RUR2.74 (9.4 percent) against the ruble over the past 12 months on the Russian currency market. This ruble strengthening dynamics surpass plans reported by the Russian Central Bank earlier.