The Russian Currency Exchange Rate Today: Dollar and Euro Fall, Yuan Remains Stable
Russian Currency Exchange Rate Rises Against American and European Currencies
The Russian currency exchange rate today, Friday, increased in value compared to the American and European currencies. The euro, in particular, traded below 102 rubles for the first time since September 28 of last year.
Dollar and Euro Exchange Rates
By 10:05 Moscow time, the dollar exchange rate decreased by 44 kopecks (one hundred kopecks make up one ruble) to 96.95 rubles. Similarly, the euro exchange rate dropped by 64 kopecks to 102.13 rubles. This marks the first time since September 28, 2023, that the euro has traded below 102 rubles.
Chinese Yuan Exchange Rate
Additionally, the Chinese yuan exchange rate fell by 7 kopecks to 13,161 rubles, according to data from the Moscow Exchange.
Decree to Stabilize Russian Currency
In an effort to stabilize the local currency market and support the Russian currency, which has been facing recent pressures, Russian President Vladimir Putin signed a decree. The decree mandates that 43 export companies must sell their foreign exchange earnings on the Russian Stock Exchange within a period of 6 months.