The dollar rose above 81 rubles for the first time since the end of April
During trading on the Moscow Exchange on Wednesday, May 17, the dollar rose above 81 rubles for the first time since the end of April, testify site data. The euro exchange rate approached 88 rubles, both currencies are growing by almost a percentage.
Thus, the ruble lost almost all of the growth in the first half of May, rolling back to levels close to the April lows.
The Moscow Exchange index remains at the level of Tuesday (2630 points), while the RTS index falls by 0.6 percent to 1025 points. Oil quotes are growing moderately, the price of Brent has risen above $75 per barrel.
This week, the Central Bank reported that the real effective exchange rate of the ruble (calculated against the currencies of major trading partners, adjusted for inflation) fell by 14.7 percent in the first quarter, and another 6.8 percent in April.
Until May 11, the ruble strengthened significantly, and the maximum dollar fell to almost 75 rubles, but since Thursday, April 11, the opposite trend has been observed. In the last year, the exchange rate of the Russian currency is almost completely dependent on the volume of foreign exchange earnings from exporters, primarily the oil and gas sector, so, most likely, we are talking about a new decline in industry revenues.
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