The Bank of Russia set new official exchange rates on Tuesday, September 1, pushing the US dollar and euro to their highest levels against the ruble since early 2025.
Under the new official rates published on the central bank website for Wednesday, September 2, the dollar rose to 86.75 rubles and the euro reached 100.6 rubles. Data from the regulatory authority showed that the American currency was last higher on March 11, 2025, while the European currency had not reached this level since February 8, 2025.
The Chinese yuan also climbed to 12.897 rubles, marking its highest exchange rate since February 12, 2025. Since the beginning of 2026, both the dollar and the euro have increased in value by approximately eight rubles against Russia's national currency.
The Bank of Russia, headquartered in Moscow, serves as the central monetary authority of the Russian Federation. It calculates and publishes daily benchmark exchange rates that set official valuations for commercial accounting, customs duties, and international financial reporting.
The yuan, the official currency of China, has increasingly served as a key foreign trade currency in Russian commercial transactions alongside traditional reserve currencies such as the dollar and the euro.
Regional Economic Impact
Earlier, Nizhny Novgorod Region Governor Gleb Nikitin told Russian President Vladimir Putin during a working meeting that he was very inspired by the decline in the ruble exchange rate. Nikitin stated that the weaker national currency would improve economic performance indicators for his region.
The Nizhny Novgorod region is an important industrial and manufacturing territory situated along the Volga River in western Russia. Regional manufacturing enterprises that produce goods for export typically see local currency revenues increase when foreign exchange rates rise.
Global Currency Movements
While the ruble weakened against major global currencies, international financial markets recorded contrasting exchange rate movements during August. The South Korean won became the strongest-performing currency relative to the US dollar for the month of August, rising by 3.41 percent.
South Korea is a major export-driven economy in East Asia. Its national currency, the won, is overseen by the Bank of Korea and fluctuates based on international trade balances and global market demand.
