The Russian currency continues to rise against the American and European currencies, having increased today, Monday, by approximately 3%. The dollar was traded below 59 rubles and the euro below 62 rubles. By 10:09 Moscow time, the dollar exchange rate dropped by 1.51 rubles (1 ruble = 100 kopecks) to 58.72 rubles, while the euro exchange rate declined by 1.33 rubles to 61.47 rubles. Earlier in the trading, the dollar reached 58.6 rubles and the euro hit 60.75 rubles, according to data from the Moscow Exchange.
In terms of stock trading, the Moscow Exchange index for dollar-denominated RTS stocks increased by 2.32% to 1268.17 points, while the ruble-denominated MICEX index fell by 1.31% to 2341.2 points. The rise of the Russian currency comes after it had fallen in the second half of March to historic lows, exceeding 140 rubles per dollar.
At the beginning of March, the Russian Central Bank announced a series of measures to achieve financial and economic stability in Russia, among which was the requirement for exporters in Russia to sell 80% of their foreign currency earnings on the Moscow Exchange. For his part, Kremlin spokesperson Dmitry Peskov noted that the situation regarding exchange rates and fulfilling social obligations is regularly discussed in meetings between Russian President Vladimir Putin and the government.
Source: Novosti
