Euro rate reaches 9.5-month high

The Russian Central Bank has set the official euro exchange rate for October 26 at 36.86 RUR/EUR. This figure is RUR0.21 higher than the previous official euro exchange rate. This has been the most considerable gain in the euro against the ruble over the past week. As a result, the present euro exchange rate against the ruble is the highest since January 13, 2004.

The ruble's weakening against the European currency is connected with a fall in the dollar against the euro on the world market. At present, the euro costs almost $1.28, whereas it cost $1.2630 on the previous business day and less than $1.26 two business days ago. Consequently, the dollar has lost 1.3 percent against the euro in comparison to October 22 and more than 1.5 percent compared to October 21.