The ruble was among the three worst currencies of “developing” markets – Kommersant
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In 2023, the ruble weakened against the dollar by 23%. Thus, the ruble was in the top three currencies with the worst performance among emerging markets – on a par with the Turkish lira and the Argentine peso. Bloomberg.
On August 7, the dollar exchange rate crossed the mark of 97 rubles. for the first time since March 2023. Today, August 9, the Russian currency weakened even more. Euro exchange rate on the Moscow Exchange exceeded mark 107 rubles. for the first time since March 25, 2022. The dollar rose to 97.2 rubles.
Despite the fact that the benchmark Brent oil has become $10 more expensive since June, and the Russian Urals has overcome the price ceiling of $60 per barrel set by the West, the ruble has already weakened by 20% since the beginning of the summer.
For more information on when the national currency exchange rate stabilizes, see the Kommersant FM article. “The fall of the ruble marked the boundaries”.
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