As of the time this news was written, the exchange rate of the ruble to the dollar stands at 103.4 rubles per $1, with the highest dollar price today reaching 103.58 rubles.
According to the Russian propaganda agency RBK, the ruble also crossed the 103 rubles per $1 mark in the Forex market today, marking the first decline of the ruble since March 23, 2023, when it was 104.5 rubles per $1.
The ruble has also depreciated against the Chinese yuan, adds RBK citing data from the Moscow Exchange. For the first time since October 9, 2023, the yuan is trading above 14 rubles (a momentary increase of 0.42%).
Analyst Mikhail Zeltser told RBK that both the rising dollar and "internal reasons" are working against the Russian currency.
"The ruble cannot even rely on the tight monetary policy of the Central Bank and the increase in the key rate, as the usual carry trade (strategy of earning on the stock and currency markets by using the difference between interest rates of different countries. – "GORDON") has long been absent," he noted.
The ruble has been steadily declining since last week, as indicated by data from Investing.com: on November 11, its rate against the dollar was 95.48 rubles per $1.
As reported by Bloomberg, on November 19, the Central Bank of Russia set the official rate above 100 rubles per $1 for the first time in over a year. This occurred after Ukraine's first use of ATACMS missiles on Russian territory, the agency points out. The further decline is happening against the backdrop of Russia's use of a new ballistic missile against Ukraine. Additionally, this follows the sanctions against the Russian financial sector, imposed by the U.S. on November 21.
Analysts surveyed by RBK consider the impact of sanctions on the ruble to be "ambiguous," but predict that it may further decline against the yuan – to 14.4 and 14.7 rubles per 1 yuan.