the real effective exchange rate of the ruble has fallen by 29.9% since the beginning of 2023 – Kommersant
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The real effective exchange rate of the ruble (REER) against the currencies of the main trading partners, taking into account inflation, decreased by 29.9% over the period from January to August 2023. In August, REER fell by 4.6%, according to data (.xlsx) Bank of Russia.
The real effective ruble exchange rate is determined in order to identify the dynamics of exchange rates through the average value of exchange rates of trading partners. Whereas the nominal rate represents the average exchange rate excluding inflation and reflation.
According to the Central Bank’s calculations, REER fell by 5.1% against the dollar in August and by 4% against the euro. Since the beginning of the year, the real effective exchange rate of the ruble against the dollar has fallen by 31.1%, and against the euro – by 32.9%.
Since the beginning of August, the ruble has fallen accelerated by about 7%. However, on September 11, the dollar exchange rate dropped to 95.08 rubles. Today, September 12, the ruble continued to strengthen: the dollar was worth less than 93 rubles, the euro – less than 100 rubles. As of 17:52 Moscow time, the dollar exchange rate is 95 rubles, the euro exchange rate is 101.87 rubles.
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