Dollar exchange rate down below 79 rubles

The dollar exchange rate in the Russian interbank market has declined below 79 rubles for the first time since May 31, 2023, having lost more than 4%, according to trading data.

As of 12:00 p.m. Moscow time (9:00 a.m. GMT) the dollar exchange rate was down by 4.21% at 78.625 rubles.

By 12:15 p.m. Moscow time (9:15 a.m. GMT) the dollar had narrowed losses to 1.34% as it traded at 80.98 rubles.

Meanwhile, the euro exchange rate in the Russian interbank market was down by 0.25% at 93.687 rubles.