Euro falls vs ruble for fourth straight day

The Central Bank of Russia set the weighted average exchange rate of the euro at 35.24 RUR/EUR for June 27. This is RUR 0.32 below the euro's previous official exchange rate. The European currency weakened against the ruble for the fourth day in a row, starting July 22. During this period, the euro lost RUR 0.97, or almost 3 percent of its value. As a result, the ruble's exchange rate against the euro is the highest since July 1.

The euro's sharp fall against the ruble is due to the euro's weakening against the dollar on international markets. The euro is currently trading at $1.2140, against $1.2220 a day earlier. At the beginning of last week, the euro was trading at $1.2460. So, the euro has lost more than 0.5 percent of its value against the US currency since July 23, and almost 3 percent since July 19. The euro is weakening against the ruble at almost the same rate as it is falling against the dollar.