The real effective exchange rate of the ruble fell by 0.2% in July
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Central Bank (CB) declared on a 0.2% decrease in the real effective exchange rate of the ruble against a basket of currencies of the states that are Russia’s main trading partners in July 2022. However, since the beginning of 2022, this rate has increased by 42.2%.
Against the dollar, the real effective exchange rate of the ruble in July fell by 3.3% compared to June, and against the euro – by 0.7%.
The nominal exchange rate against the dollar fell by 1.6%, against the euro it grew by 1.7%.
The official exchange rate of the Central Bank for today is set at 60.62 rubles/$ and 62.51 rubles/€.
The real effective rate is determined to identify the dynamics of exchange rates by deriving the average value of the exchange rates of all trading partners of a particular country. The nominal rate is an average exchange rate that does not take into account inflation or price reflation in the country whose currency is being exchanged.
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