The current depreciation of the ruble is mainly due to the reduction in the trade balance. According to Prime, this was announced by the first deputy chairman of the regulator, Ksenia Yudaeva. At the same time, the regulator does not see financial stability risks because of this.
According to Yudaeva, recently the data on the balance of payments were published. The Central Bank of the Russian Federation sees a significant reduction in the current balance compared to last year. This, in turn, is associated with a reduction in export earnings due to lower prices for raw materials, the representative of the Central Bank explained. At the same time, Yudaeva added, imports are recovering against the background of economic growth.
The deputy chairman of the regulator pointed out that over the past year and a half the structure of the foreign exchange market has changed significantly: the yuan has become the leading market, while the liquidity of the dollar and euro markets has decreased.
She also stressed that it is impossible to talk about the presence of transactions in the Russian foreign exchange market, which significantly “shatter” the situation.
Recall that the ruble began to weaken sharply last week. In particular, the dollar jumped by 5.5 rubles over seven trading sessions, to 90.2 rubles, the highest since March last year. At the same time, the euro for seven incomplete trading sessions jumped as much as possible by 5.04 rubles, to 98.28 rubles.
Note that the Bank of Russia set the official dollar exchange rate on July 5, 2023 at the level of 89.545 rubles. This is 22 kopecks higher than the previous figure. The official euro exchange rate was raised by 48 kopecks to 97.7382 rubles.
Source: Rosbalt
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