For the first time since February, the euro fell below 100 rubles

New sanctions will increase the collapse of the ruble, says Andrei Maslov
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The ruble is getting cheaper against the background of a special operation in Ukraine

At the end of the last working week, namely March 25, the euro fell below 100 rubles. The movement of exchange rates was determined by the increased demand for rubles from exporters.

The end of the week was successful for the Russian currency: during Friday’s trading the dollar rolled back to 92.04 rubles, the lowest since March 1, and the euro – to 98.11 rubles, the lowest since late February, reports “Kommersant”. Despite the sharp fall in the exchange rate, the local lows could not be kept.

According to experts, c the absence of international investors in the Russian market could only help restore the operations of local players, primarily exporters. From the end of February, they have to sell 80% of revenue, and on March 25 came the peak of the tax period. According to Maxim Tymoshenko, director of the Russian Markets Financial Markets Department, due to the fact that the demand for foreign currency in the tax period is now much lower than the supply, it leads to strong movements of the ruble against foreign currencies.

Andrei Maslov, an analyst at Finam, believes that the main risk factor for the Russian currency remains the geopolitical situation. He is confident that with the imposition of new sanctions, the Russian currency will inevitably continue to “fall”, even despite the strengthening of the ruble after the statement of Russian President Vladimir Putin on the sale of energy resources to “unfriendly” countries.

The ruble fell to a record high after the West imposed large-scale economic sanctions due to a forced special operation to demilitarize and denationalize Ukraine. At the celebration of the eighth anniversary of the reunification of Russia and Crimea, Russian President Vladimir Putin said that the purpose of the special operation was to protect the people of Donbass from genocide. The Central Bank of the Russian Federation has taken a number of urgent measures to stabilize the national currency. In particular, they stopped trading on the Moscow Exchange and banned making money on the collapse of the exchange rate through short sales. According to the Central Bank, on March 25, one dollar costs 95.66 rubles, the euro – 105.27.

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At the end of the last working week, namely March 25, the euro fell below 100 rubles. The movement of exchange rates was determined by the increased demand for rubles from exporters. The end of the week was successful for the Russian currency: during Friday’s trading the dollar rolled back to 92.04 rubles, the lowest since March 1, and the euro – to 98.11 rubles, the lowest since late February, reports “Kommersant”. Despite the sharp fall in the exchange rate, the local lows could not be kept. According to experts, in the absence of international investors in the Russian market, only the operations of local players, primarily exporters, could help restore activity. From the end of February, they have to sell 80% of revenue, and on March 25 came the peak of the tax period. According to Maxim Tymoshenko, director of the Russian Markets Financial Markets Department, due to the fact that the demand for foreign currency in the tax period is now much lower than the supply, it leads to strong movements of the ruble against foreign currencies. Andrei Maslov, an analyst at Finam, believes that the main risk factor for the Russian currency remains the geopolitical situation. He is confident that with the imposition of new sanctions, the Russian currency will inevitably continue to “fall”, even despite the strengthening of the ruble after the statement of Russian President Vladimir Putin on the sale of energy resources to “unfriendly” countries. The ruble fell to a record high after the West imposed large-scale economic sanctions due to a forced special operation to demilitarize and denationalize Ukraine. At the celebration of the eighth anniversary of the reunification of Russia and Crimea, Russian President Vladimir Putin said that the purpose of the special operation was to protect the people of Donbass from genocide. The Central Bank of the Russian Federation has taken a number of urgent measures to stabilize the national currency. In particular, they stopped trading on the Moscow Exchange and banned making money on the collapse of the exchange rate through short sales. According to the Central Bank, on March 25, one dollar costs 95.66 rubles, the euro – 105.27.

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