The Bank of Russia lowered the dollar exchange rate from December 25 by 1.74 rubles, to 99.87 rubles, which is below the psychological mark of 100 rubles. The euro exchange rate was lowered by 1.02 rubles, to 104.23 rubles, and the yuan – by 16 kopecks, to 13.66 rubles, according to materials from the Bank of Russia.
The Bank of Russia set the dollar exchange rate on December 25 below the psychological mark of 100 rubles
Author: Ekaterina Strukova
On the interbank market, the dollar was trading around 100 rubles on the evening of December 24.
- The Central Bank has been using bank reports on the results of transactions on the over-the-counter foreign exchange market to calculate official rates since June 2024. This decision was made after the Moscow Exchange came under US sanctions.
The dollar exchange rate dropped below 100 rubles from December 7 to 10, but then recovered.
In November, the ruble lost almost 10% against the dollar after large-scale US sanctions against 50 Russian second-tier banks. November 27 dollar exchange rate on the Forex currency market exceeded 114 rubles, very close to 115 rubles. Russian President Vladimir Putin said that the situation is under control. The President of the Russian Federation linked the weakening of the ruble against the dollar with lower oil prices, payments to the budget and other “seasonal factors.”
Russian banks earned 140 billion rubles from the weakening of the ruble, the Bank of Russia reported in the information and analytical material “On the development of the banking sector of the Russian Federation in November 2024” on December 23. According to the Central Bank, in November, the profit of the banking sector increased 1.5 times, to 518 billion rubles, mainly due to currency revaluation by 140 billion rubles against the backdrop of a strong weakening of the ruble.
Cover photo: Bloomberg Creative Photos /
Source: rb.ru
