Expert Dmitry Babin told RB.RU that on Friday, after a “bad” start, the ruble was actively falling against the yuan, and almost reached its two-month high, set on August 14. The national currency subsequently regained its lost positions, but remained in a moderate negative position.
Author:
https://rb.ru/author/ntihonov/
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“The ruble can already benefit from the tax period factor. Although tax payments peak on August 28, more and more companies will sell foreign currency for these purposes. In addition, its exchange rate remains at relatively high levels against the ruble, which may encourage many exporters to convert their currency into rubles in advance, for fear of having to do so later at a less favorable exchange rate,” says Babin.
As for the official exchange rates for the weekend and Monday, according to the Central Bank of the Russian Federation, the yuan costs 12.05 rubles (+12 kopecks), the dollar has risen by 11 kopecks to 88.9 rubles, and the euro has become cheaper by 48 kopecks – 97.84 rubles.
He also says that there may be an increased demand for foreign currency. There are several reasons for this, including the gradual restoration of imports, as well as the withdrawal of ruble assets by non-residents as October 12 approaches, when the US Treasury’s license to complete transactions with the Moscow Exchange and the NCC expires.
As for the Russian debt market, the pressure on it has been maintained for three consecutive sessions. The RGBI government bond index is falling significantly and is suffering significant losses, reaching a weekly low.
We previously wrote about how US banks block the accounts of Russian clients when they log into personal accounts from Russia.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
