The currency курс валюты for today in Russia bank is updated at midday. The central bank has not stated when this new mechanism will be introduced. Many currency traders have noted a widening gap between the ruble's dollar value on the Moscow Exchange and the international markets. This is due to sanctions and capital controls, as foreign banks have been reticent to touch the Russian ruble. As a result, the ruble's value has fluctuated dramatically, and is unlikely to return to its previous value.
On Wednesday, the ruble traded at 117 rubles per U.S. dollar. However, it closed at 105 rubles per USD. The currency's upturn came in the face of soaring global oil prices and continued to rise against the dollar. This has caused a spike in the value of the dollar, which has weighed on the Russian economy. The current dollar exchange rate in Russia was RUB 68.7 per USD on 5 June. It is down 4.9% year-on-year and 9.9% year-to-date.
While the official currency rate in Russia will change soon, the Russian ruble has been rising against the dollar. In a bid to reduce volatility, the central bank will start calculating the official dollar exchange rate using the transactions from the Moscow Exchange. The currency will then be pegged against a wider range of quotes, including the dollar and euro. This means that it may be more volatile in some places, and outsized gains for some traders. The Russian stock and currency markets have been shut down since the Feb. 25 invasion of the Crimea by the Russian army. The West imposed sanctions that targeted the financial system, and they are still trying to regain their footing.
In recent weeks, the ruble has been rising against the U.S. dollar. The currency hit a four-year low at the end of March, but has gained ground since then. On 5 June, the currency traded at RUB 68.7 per USD, an increase of 7.3% over the month and nearly nine percent year-to-date. The increase is primarily due to the stabilization of the global oil market. Meanwhile, the Russian government is seeking to stabilize its national currency.
The ruble is weakening against the U.S. dollar, with the Russian ruble trading at a four-year low against the U.S. dollar on March 24. The bank is aiming to reduce the volatility by calculating the official ruble against a wider range of quotes. The Russian central bank's decision to freeze its assets will make it more difficult for the country to stabilize its currency.
The official ruble rate for today in Russia bank is based on the prices of gold, silver, and commodities. The official ruble rate is calculated by the central bank against a range of quotes, and it has been used to determine the official currency rate since the end of March. The Bank's calculations are based on the market prices at the Moscow Exchange. Until the end of March, the official ruble is expected to appreciate by around 5%.