The Central Bank called Geopolitics one of the reasons to strengthen the ruble

“The strengthening of the ruble was associated both with the reaction of the markets to geopolitical events and with a seasonal decrease in the demand for foreign currency by importers. Operating data indicate some deceleration in increasing the prices of imported goods after the ruble in December has moved to strengthening, ”says the document.

At the same time, it is observed that it is difficult to evaluate how sustainable the strengthening of the ruble observed in recent weeks and how prices will affect.

On the subject: Dollar exchange rate: Why does it fall and how will business affect?

Previously, the Central Bank established an official exchange rate in dollars on February 27 for an amount of 85,9279 Rublos, the euro – 90.1826 Rublos. The last time that the exchange rate of the American currency of the Central Bank fell below 86 rubles on August 8, 2024, then it was 85,9543 rubles.

Context. At the beginning of February, the head of the Bank of Russia Elvira Nabiullina said that the regulator does not take into account the influence of peace negotiations in Ukraine on monetary policy, since this factor is “premature.” The president of the Central Bank said that “the basic scenario is now coming from the invariability of geopolitical conditions.”

• The ruble began to strengthen markedly after the first in three years of negotiations between Russia and the United States dedicated to resolving the conflict in Ukraine. At the meeting, high -risk officials agreed that embassies in Moscow and Washington would restore, and also discussed a possible meeting of Vladimir Putin and the president of the United States, Donald Trump.