On December 30, Russia’s central bank set the euro exchange rate at 69.06 rubles while the U.S. dollar exchange rate was gauged at 56.68 rubles. Thus, the American currency grew 4.65 rubles and the single European currency jumped 5.55 rubles.
At the same time, the greenback was trading at 56.14 rubles at the Moscow stock exchange while the euro was trading at 68.7 rubles. Previously, on December 25, Russia’s Finance Minister Anton Siluanov claimed that the period of the ruble tumble was over. Besides, he assured that the national currency was following the bullish trend. “The ruble has gained momentum and is being reinforced,” the official noted.
On December 16, Russia’s central bank lifted the key interest rate to a whopping 17% from 10.5%. On the same day, the euro surpassed the level of 100 rubles and the U.S. dollar surged 80 rubles while trading at the Moscow Stock Exchange.
On November 10, the Russian regulator canceled regular forex interventions and a corridor of the dollar-euro basket. This event was a milestone when the regulator actually declared a floating exchange rate of the ruble.
