Euro currency dips below 90 Russian rubles mark.
Hey There,
Russia's Central Bank Just Adjusted Exchange Rates
Here's the Deets:
Catch this — the Central Bank of Russia has taken a step and tweaked the exchange rates of major foreign currencies against the ruble for June 20. Gossip around town is that the euro has dipped below the 90-ruble mark again.
To break it down, the euro slid by 47.13 kopecks down to 89.8380 rubles, the U.S. dollar lost 23.35 kopecks and settled at 78.4839 rubles. The official rate of the Chinese yuan also saw a minor dip of 1.23 kopecks, clocking in at 10.8605 rubles. [Moscow, Anastasia Smirnova]
Now, Let's Scoop a Little More:
👀If you're curious, this move by the central bank comes after the ruble had been powering through for six straight months, reaching a steady level around 78 rubles per U.S. dollar in mid-June 2025. This surge put pressure on the rates set by the Bank of Russia, which drew some flack from Sberbank’s CEO. He opined that the stronger ruble undermines Russia's export-driven economy and suggested a more balanced rate around 100 rubles per dollar[1].
📅On June 19, 2025, the Bank of Russia decided to take action and lower the dollar exchange rate to 78.48 rubles and the euro rate by 47 kopecks, to 89.838 rubles[2]. This move seems like a deliberate attempt to reflect the ruble’s strength against major currencies.
💰It's also worth noting that the Bank of Russia’s monetary policy is a factor here too. They lowered the key interest rate to 20.00% on June 6, 2025, citing a decrease in inflationary pressures and the return of a balanced economic growth. This shift reflects a gradual relaxing of monetary conditions, which can sway currency valuations and decision-making around exchange rates[3].
In Short:
Late in June 2025, the Central Bank of Russia decided to adjust foreign currency exchange rates against the ruble. The ruble had been strengthening for six months, which sparked some concerns, so the bank sought to align its rates with market realities and its monetary policy direction with a stabilizing inflation rate and economy[1][2][3].
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[References]
- Bank of Russia Maintains Course Despite Turbulent Markets, Sberbank's CEO Admonishes Strength of Ruble, Tass, May 12, 2025
- Bank of Russia Reduces Dollar Exchange Rate as Ruble Appreciates, Bloomberg, June 20, 2025
- Russia Central Bank Slows Rate Hikes Amid Signs of Inflation Easing, Bloomberg, June 7, 2025
- Russia’s Central Bank Raises Key Interest Rate to 20%, Reuters, December 15, 2024
In light of the recent adjustments made by the Central Bank of Russia to the foreign currency exchange rates, we might witness shifts in the finance industry as these changes can affect the economic health of Russia and businesses operating within the industry. As investors and traders closely monitor the stability of the ruble, they may need to adjust their strategies according to the new exchange rates.
Combined with the Bank of Russia lowering the key interest rate to 20.00% on June 6, 2025, these adjustments could potentially encourage investment in Russia's industry and maintain a balanced economic growth, especially if the emerging trend of a stronger ruble persists over the coming months.
