A financial expert explained what is happening with the Russian currency exchange rate.
Dmitry Babin, stock market expert at BCS World of Investments, shared a comment on this topic.
According to him, the weakening of the ruble is connected with the pressure exerted by foreign trade, RBC reports.
The decrease in the inflow of foreign currency into Russia may be associated with a reduction in exports in value terms due to the decline in oil prices.
In August 2024, Russia's revenues from the sale of "black gold" and fuel fell to their lowest levels since mid-summer 2023 ($15.3 billion).
In addition, sanctions and geopolitical events play a role.
Cheaper oil, economic restrictions and politics combined to weaken the ruble in the fall of 2024.
Thus, on Thursday, September 19, the Central Bank lowered the official exchange rate of the ruble. Now, for the first time since mid-August, the dollar is worth more than 92 rubles, and the euro reached 103.25 rubles, and the yuan – 13.1 rubles.
