The Chinese currency is weakening against the ruble, following the dollar and euro. Experts believe that the ruble is supported by the policy of the Central Bank, oil prices and a number of other factors
(Photo: Shutterstock)
The Chinese yuan exchange rate decreased by 16 kopecks, or 1.23%, and at 17:20 Moscow time amounted to ₽12.4965, according to Moscow Exchange data. The Chinese currency is trading below ₽12.5 for the first time in more than a month; the previous time this happened was on March 6, 2024.
The dollar at 17:20 Moscow time is losing 0.73% and is trading at ₽91. 27, according to Moscow Exchange data. The euro exchange rate falls by 0.98% to ₽97.6875.
On Friday, April 26, the Bank of Russia decided to maintain the key rate at 16% per annum. This, according to most analysts, is a positive factor for the ruble.
“High oil prices will continue to support the ruble exchange rate, plus the monetary policy of the Bank of Russia will remain tight, which will ensure the attractiveness of ruble savings and will help reduce the demand for foreign currency,” makes a forecast at Management Company “Pervaya”
Analysts at Tsifra Broker added that the ruble strengthened against the basket of currencies amid increased demand for ruble liquidity in anticipation of tax payments for March and the first quarter.
Meanwhile, BCS World of Investments noted that last year, before the May holidays, the ruble was also in a strengthening phase. “Then the correction in the USD/RUB pair lasted from April 28 to May 10. Quotes dropped by about 8% during this period,” analysts recalled.
The yuan exchange rate fell below ₽12.5 for the first time since February 5Banking and finance,< /span>Mosex Exchange,Yuan,Dollar