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Market news | The official dollar exchange rate exceeded ₽98 for the first time in a year. Against this backdrop, the Finance Ministry announced that, within the framework of the budget rule, it will allocate more than ₽4 billion to purchase currency and gold from November 7 – ъ
The official dollar exchange rate exceeded 98 rubles for the first time in a year. Against this background, the Ministry of Finance announced that, starting November 7, it would allocate more than ₽4 billion for the purchase of foreign currency and gold within the framework of budget rules.
On November 5, the dollar exchange rate on the official Russian market rose by 50.5 kopecks, reaching 98.02 rubles. This is the first time the dollar has exceeded this level since October 2023. The euro exchange rate also rose by 74.5 kopecks, reaching 107 rubles, and the ruble weakened against the yuan, reaching 13.8 rubles.
Against the backdrop of a weak ruble, the Russian Finance Ministry said it would increase purchases of foreign currency and gold under its budget rules. From November 7, the department will allocate more than 4 billion rubles. Every day for this. However, analysts believe that this will not lead to a significant change in the ruble exchange rate, since its value largely depends on oil prices. The current price of oil is $75-76 per barrel, which is in line with the budget forecast.
The Treasury also reported that budget revenues from oil and gas fell by almost 26% in October, despite growing by a third over the 10 months as a whole. However, given the fall in oil prices and the budget deficit, the government is unlikely to be interested in strengthening the ruble, experts say.
Source: www.kommersant.ru/doc/7282766?from=doc_lk