US dollar, euro surge to new record highs vs Russian ruble

The Russian currency continues depreciating on the domestic foreign exchange market amid falling world oil prices and increased geopolitical tensions, Tass reports.

The euro rose to a new record high of over 60 rubles in early Moscow trading on Friday while the US dollar climbed above 48.6.

Financiers say the Russian foreign currency market is close to panicking, which is largely caused by the population’s heightened demand for foreign exchange rather than by geopolitical factors.

The US dollar exceeded 47 rubles on Friday’s opening on the Moscow Exchange, subsequently climbing by 1.27 rubles to 48 and further to 48.6 by 11:30am Moscow time (08:30 GMT). Meanwhile, the euro jumped by 1.42 rubles to 59.47, eventually climbing to over 60 rubles by 11:30am Moscow time.

Show More
Back to top button