The Bank of Russia set the dollar exchange rate on December 25 below the psychological mark of 100 rubles

In the interbank market, on the afternoon of December 24, the dollar was trading at about 100 rubles.

• The Central Bank uses bank reports on the results of transactions in the over-the-counter foreign exchange market to calculate official rates from June 2024. This decision was made after the Moscow Stock Exchange came under US sanctions.

The dollar exchange rate fell below 100 rubles from December 7 to 10, but then recovered.

In November, the ruble lost almost 10% against the dollar following large-scale US sanctions against 50 second-tier Russian banks. On November 27, the dollar exchange rate on the Forex currency market exceeded 114 rubles, getting very close to 115 rubles. Russian President Vladimir Putin affirmed 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” of December 23. According to data from the Central Bank, in November the profit of the banking sector increased by 1.5 times, to 518 billion rubles, mainly due to the revaluation of the currency by 140 billion rubles against the background of sharp weakening of the ruble .

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