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Russian Currency Rises Against Major Currencies, Supported by Putin’s Aide: Updates and Analysis

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Russian Currency Strengthens Following Supportive Statements from Russian Government Official

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Introduction

The Russian currency experienced a notable increase in value against major currencies on Tuesday, partially recovering from previous losses. This positive development was influenced by statements made by Maxim Oreshkin, an assistant to Russian President Vladimir Putin.

Ruble’s Rise Against Dollar, Euro, and Yuan

As of 07:30 Moscow time, the dollar exchange rate dropped by 1.85 rubles (1 ruble = 100 kopecks), resulting in a value of 93.18 rubles. Similarly, the euro exchange rate decreased by 2.29 rubles, reaching 100.20 rubles. Additionally, the Chinese yuan exchange rate declined by 26 kopecks, settling at 12.76 rubles. These figures are based on data provided by the Moscow Exchange.

Russia’s Currency Outlook

Maxim Oreshkin expressed confidence that in the upcoming months, there will be a surplus of hard currency due to various influential factors. He also stated that Russia has already overcome the worst phase of the ruble’s depreciation.

Source

RT

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