Rubel Continues Its Decline Against Dollar and Euro

The period of the ruble's decline may come to an end only after a reduction in imports or decisive measures by the authorities in the monetary sector, according to investment advisory expert Alexey Antonov.

“Fundamental factors continue to act against the Russian currency. We have not yet felt the influx of additional foreign currency income from rising oil prices. This factor is likely to become evident only next week when exporters prepare to pay taxes,” said Alexey Antonov.

Today, the dollar's exchange rate on the Moscow Stock Exchange surpassed 100 rubles for the first time since March 23, 2022, according to trading data. Meanwhile, the euro's exchange rate also exceeded 110 rubles on the Moscow Stock Exchange for the first time since March 23, 2022. In Armenia, the value of 1 ruble is 3.7 for buying and 3.9 for selling.