The Russian Ruble Falls To Critical Level

• 22.11.2024, 16:19

Should the Belarusian ruble also get ready?

The Russian ruble on November 22 updated local minimums, and the confrontation between the West and Moscow continues to be the key factor in pressure on the Russian currency, while the tense news agenda may provoke increased risk minimization over the weekend, writes The Moscow Times.

This is clearly evident in the dynamics of the ruble over-the-counter exchange rate of foreign currency, of which the dollar, according to LSEG data, was noted at 103.30 rubles for the first time since March 2022, and the euro rate jumped to 108.38 rubles, the maximum in a month and a half.

At the time of writing, 1 US dollar is worth 102.89 rubles.

Market players also continue to assess the consequences of the expansion of US sanctions against one of the largest Russian banks, Gazprombank, through which the main payments for Russian gas supplied to Europe have recently been made.

Against the geopolitical pressure due to the risks of confrontation between the West and Moscow, the Russian currency is also facing a reduction in the inflow of foreign currency to the domestic market as oil exported from Russia is partially sold for rubles while imports are simultaneously restored, as well as the negative effect of the significant strengthening of the US currency on world markets.

The fall of the Russian ruble is expected to be followed by a weakening of the Belarusian ruble. Today, the dollar set another record at trading on the Belarusian Currency and Stock Exchange, having risen in price by 0.35% to 3.427 rubles.