Russian Ruble Falls To Almost 1-Year Low Past 80 To US Dollar - Moscow Exchange

Faizan Hashmi Published April 06, 2023 | 06:30 PM

Russian Ruble Falls to Almost 1-Year Low Past 80 to US Dollar - Moscow Exchange

MOSCOW (UrduPoint News / Sputnik - 06th April, 2023) The exchange rate of the Russian ruble has continued its fall against major foreign currencies, with the US Dollar already rising above 81 rubles and setting a new record high since last April, the data of the Moscow Stock Exchange showed on Thursday.

As of 13:53 Moscow time (10:53 GMT), the dollar exchange rate rose by 1.19 rubles to 81.03 rubles, the Yuan by 18 kopecks to 11.76 rubles, the euro by 1.20 rubles to 88.49 rubles.

According to experts, the fundamental reasons for the ruble's decline include capital outflows from Western investors selling assets, wealthy Russians exchanging rubles, as well as Eurobond payments, which require rapid conversion into hard Currency, among others.

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