Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Moscow, October 15 /Xinhua/ — The US dollar-to-ruble exchange rate on the Forex currency market fell 3.2 percent to a low of 76.94 rubles, falling below 77 rubles for the first time since May 29, according to Investing data as of 5:06 PM Moscow time.
The Central Bank of Russia set the official exchange rate for the US dollar on October 15 at 79.9589 rubles, the euro at 92.6816 rubles, and the yuan at 11.1190 rubles. The official dollar exchange rate fell below 80 rubles for the first time in two months.
According to Russian Finance Minister Anton Siluanov, the strengthening of the national currency is linked to the Central Bank of the Russian Federation's tighter monetary policy and a reduction in imports.
"The ruble has indeed strengthened compared to planned forecasts. This is primarily due to a tighter monetary policy, which has reduced imports. Consequently, while the forecast for export revenues in foreign currency remains the same, the exchange rate has strengthened," A. Siluanov stated in his speech to the State Duma.
According to the Central Bank, the real effective exchange rate of the ruble increased by 21.2 percent in January-September, while in September it decreased by 3.6 percent compared to August. –0–
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