Exchange Rate in Russia
Russia - Exchange Rate
Ruble recovers some lost ground though early June
The Russian ruble continued to regain ground against the U.S. dollar over the past month after sliding to a four-year low at the end of March. On 5 June, it traded at RUB 68.7 per USD, which marked a 7.3% appreciation over the previous month. That said, the currency was down 4.9% year-on-year and 9.9% year-to-date.
The ruble’s recent upturn came against the backdrop of gradually recovering global oil prices which regained some lost ground after nosediving to a 20-year low in late April. This, coupled with improving investor sentiment and increasing risk appetite for emerging market assets, supported the ruble in recent weeks, sending it to a near three-month high on 2 June.
Going forward, the ruble is expected to remain close to current levels through year-end, although significant volatility due to the economic fallout from Covid-19 poses significant risk. On the one hand, the Russian economy is set to contract severely from Q2 onwards, weighing on the RUB in turn, with sustained monetary policy easing adding further downward pressure. On the other hand, a more stable global oil market and improving investor sentiment should take some pressure off the currency.
The FocusEconomics panel projects the ruble will end this year at 72.2 per USD, before appreciating to 68.7 per USD by the end of 2021.
Russia - Exchange Rate Data
|Exchange Rate (vs USD)||72.88||60.27||57.63||68.88||61.91|
5 years of economic forecasts for more than 30 economic indicators.
Russia Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||6.23||0.13 %||Dec 30|
|Exchange Rate||62.03||-0.12 %||Dec 30|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 15, 2020
Industrial output dropped 7.2% year-on-year in August (July: -8.0% yoy).
September 4, 2020
Consumer prices recorded zero growth in August over the previous month, coming in below the 0.35% rise seen in July.
Russia: Manufacturing PMI jumps into expansionary territory, while services PMI recedes slightly in August
September 3, 2020
The IHS Markit Russia Manufacturing PMI jumped to 51.1 in August, pointing to expansionary conditions in the sector for the first time since April 2019 (July: 48.4).
August 17, 2020
Merchandise exports shrank 25.3% on annual basis in June, on the heels of May’s 35.5% plunge which had marked the sharpest decline since January 2016.
August 17, 2020
Industrial production fell 8.0% year-on-year in July (June: -9.4% yoy).