Russian ruble rises in value

The US dollar fell to 89.85 rubles per one dollar as of 17:37 Moscow time at the Moscow Exchange. The last time the dollar fell below the mark of ₽90 was on March 1. As of 17:48 Moscow time, the dollar has lost ₽5.2 and was trading at ₽90.8 per one US dollar.

The euro exchange rate fell below ₽100. On the morning of March 28, it fell to ₽97.5 before rising to ₽103 again. As of 17:48 Moscow time, the European currency fell by ₽6.7 to ₽98.3 per one euro.

The ruble has been rising in value against the background of the measures that the Russian Central Bank took to support the national currency.

Putin's announcement to switch to the Russian ruble in payments for natural gas supplies to Russia-unfriendly countries also supported the national currency. Last week, reports of such a transition caused the US dollar rate to fall below ₽100 and decline to the level of ₽96 by the end of Friday.

The details of Russia's decision to switch to ruble payments for natural gas supplies are to be disclosed by March 31.

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