Recently, there has not been a lot of good news for the Russian currency holders. That is why information on the Russian ruble strengthening is easy to note among news about its depreciation. Last week, the Central Bank of Russia announced the new official exchange rate for the euro. The European currency was trading at 77.04 rubles. That is 19 kopecks lower than the previous reading. It is obvious that such changes of the euro’s exchange rate had an influence on the US dollar. Despite the all-time high of 70.83 rubles, the US dollar declined against the Russian currency. It dropped by 43 kopecks to the level of 70.4 rubles.
Besides, the bi-currency basket, calculated as the sum of ruble values of 0.55 US dollars and 0.45 euros, decreased by 77.16 kopecks. However, the US dollar recovered and went on rising towards new highs. In general, the US dollar upward movement is supported by low oil prices, which have recently reached the lowest level last seen seven years ago.
It is noteworthy that the forecasts provided by the Russian government have not met the real state of affairs. In November, Russian Minister of Economic Development Alexey Ulyukaev assured the Russians that there were not any reasons to expect the currency market turmoil or the ruble devaluation.
However, the situation on the global market is absolutely opposite. Moreover, despite the regulator’s predictions that the ruble will not change in a short-term perspective, the US dollar hit another high.
