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The U.S. currency has dipped below the 90 Russian ruble mark.

U.S. dollar value plummets on the global Forex market, trading at less than 90 rubles for the first time since September 12, 2024, as per Investing.com's data.

The U.S. currency has dipped below the 90 Russian ruble mark.

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Buckle up, folks! Let's dive into the latest currency chaos, shall we? As of 10:33 Moscow time on a cold winter's day, the greenback was fetching a paltry 89.5 rubles (-4.78%), but hot dog, that dollars ain't worth a nickel for long! By 10:40, it surged past the 90 ruble mark.

Meanwhile, the old lady across the Atlantic, the euro, took a tumble to 94.8 rubles (-2.85%). At 10:30 Moscow time, the yuan was holding steady at 12.29 rubles on the Moscow Exchange.

Now, if you're gonna play stocks and bonds, you'd best keep your eyes on the official exchange rate, mate! According to the data on the CB's official website for February 13, the dollar is set at a sturdy 94 rubles, the euro at 98 rubles, and the yuan at 12.77 rubles.

So, you might ask, what's causing this rollercoaster ride for the ruble? Well, our buddy Mikhail Zeltzer from BCS Express has the scoop. Seems like February saw the ruble getting a bit of a boost due to a "disbalance in demand and supply of currency on the market." Why, you ask? Thanks to low purchasing power due to sanctions and high interest rates, plus a healthy supply of greenbacks thanks to the budget rule and de-dollarization of the entire financial system and corporations-exporters.

But here's the juiciest part - a chat between Vlad the Invincible and DonnyTwoScoops took place after the market had closed, which sent a shockwave through the Russian financial world, leading to a "sharp revaluation of Russian financial assets," ol' Zeltzer says. He reckons the dollar could drop down to the 92 ruble area and the euro to 95 rubles, bringing it back to levels we experienced in late summer 202x.

Just a friendly reminder - don't forget to keep it locked down here for more financial fun times!

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#Enrichment Data

Wondering what causes shifts in currency exchange rates between the USD, RUB, and EUR? It's all about understanding both global economic forces and regional dynamics. While I can't pinpoint a specific year here, let's talk about some common factors that influence currency values:

Factors Affecting Currency Exchange Rates

Economic Factors

  1. Trade Balance: A country's trade balance can have a big impact on its currency. For instance, improvements in Russia's trade surplus can fuel demand for the ruble.
  2. Sanctions and Political Events: Sanctions and geopolitical tensions can drastically affect a currency's value. For example, economic sanctions might weaken the ruble, while possible easing of sanctions could strengthen it.
  3. Monetary Policy: Changes in interest rates set by central banks can impact currency values - higher interest rates can entice foreign investment and boost a currency's strength.

Specific Events Around February 13, 20xx

Assuming the year is 202x:

  • Ruble Strengthening: The ruble gains ground thanks to increased investor confidence from peace talks between Russia and Ukraine. This newfound confidence, coupled with improved economic indicators, could cause the ruble to race against the USD.
  • US Dollar Factors: The dollar's performance could be impacted by global economic conditions, such as interest rate changes in the US and geopolitical events. A drop in the dollar's value may occur if there's increased instability or if investors flock to stronger economies like Russia's.
  • Euro vs. Ruble: The euro's performance against the ruble would depend on European economic conditions, like economic growth rates, inflation, and interest rates set by the European Central Bank. A robust eurozone economy could support the euro, while European challenges could lead to a decline against a powerful ruble.

Keeping all these economic and geopolitical factors in mind, February 13, 202x will see the ruble and the dollar dance while the euro lags behind as it struggles to fight Russia's economic resilience.

  • Since its morning dip, the value of the US dollar has rebounded, surpassing the 90 ruble mark at 10:40 Moscow time.
  • Meanwhile, the euro tumbled to 94.8 rubles, down by 2.85%, while the yuan held steady at 12.29 rubles.
  • However, analysts predict that the dollar could drop to the 92 ruble area and the euro to 95 rubles, bringing them back to levels experienced in late summer 202x.
  • These currency fluctuations are attributed to various factors, including shifts in global economic forces, regional dynamics, and specific events that occurred around February 13, 20XX.
  • Among these factors are trade balances, sanctions and political events, and central bank monetary policies that can influence currency values.
  • Additionally, during the period in question, Russia's economic resilience and improved economic indicators could have contributed to the ruble's strengthening, as compared to the euro.
US dollar hits new 2024 low against Russian ruble, plummeting below 90 rubles on international foreign exchange market, as reported by Investing.com data at 10:33 Moscow time.

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