The Central Bank of Russia (CBR) has sharply reduced the official exchange rate of the US dollar, setting it at 86.6 rubles for Wednesday, March 11. This information was published on the regulator's official website.
On Tuesday, March 10, the official exchange rate stood at approximately 88.4 rubles, meaning the dollar has dropped by 1.8 rubles. The euro also saw a decline of 1.7 rubles, falling from 95.4 to 93.7 rubles. Meanwhile, the Chinese yuan's exchange rate was lowered by 23 kopecks, from 12.08 to 11.85 rubles.
This marks the second consecutive day that the Central Bank has reduced the exchange rates of foreign currencies. The previous day, the dollar had been lowered by nearly 1 ruble, while the euro dropped by 1.5 rubles. The official exchange rate of the yuan was also reduced by approximately 16 kopecks.
The ruble began strengthening against the dollar after negotiations between Russia and the United States regarding the cessation of hostilities in Ukraine. Following a phone conversation between Presidents Vladimir Putin and Donald Trump, the dollar exchange rate fell below 90 rubles.
Key factors supporting a weaker ruble – including falling oil prices and Western sanctions – remain in place.