Russia has fully transitioned to national currencies in trade with the Eurasian Economic Union (EAEU) member states, bypassing the use of the U.S. dollar and the euro, State Secretary of the Union State of Russia and Belarus Sergey Glazyev announced at the 4th Minsk International Conference on Eurasian Security.
The Russian budget for 2027-2029 has been drafted to address any scenarios in international markets, Russian Finance Minister Anton Siluanov said.
The euro fell 0.96% to 94.349 rubles
The US dollar has risen to its highest level against the ruble since April, trading near 80 rubles.
Contrary to many expectations, the ruble has been trading within an established range of 75-85 rubles per U.S. dollar, Director of the Monetary Policy Department at the Bank of Russia Andrey Gangan said during the Bank of Russia's Financial Congress.
The dollar exchange rate was set at 72.74 rubles on June 18 by the Central Bank, which also increased the euro rate.
Russia's Central Bank has set the official dollar rate at 70.95 rubles for May 21, 2026.
The dollar exchange rate fell to its lowest in Russia since February 2023, slipping to around 70 rubles per dollar.
The dollar exchange rate fell sharply on 13 May, dropping below 73 rubles to 72.975 - its lowest level in three years.
The dollar exchange rate on Forex has dived below 76 rubles, according to ICE (a composite index of several forex brokers).
This is due to a number of steps by the Ministry of Economy, as well as sanctions
The dollar and euro exchange rates on the Russian interbank market soared this morning, with the dollar surpassing 81 rubles and the euro rising above 95 rubles.
Russia's Central Bank has filed a lawsuit seeking 18.2 trillion roubles ($229.36 billion) in damages from Belgian central securities depository Euroclear, a Moscow court said on Monday.
Russian Finance Minister Anton Siluanov has expressed the view that the ruble's current exchange rate may persist into the future, describing it as balanced.
The euro exchange rate on the Moscow Exchange dropped below 90 rubles, a level last seen in July of this year.
Despite numerous international sanctions, the Russian ruble has demonstrated resilience against various economic shocks and has become the best-performing currency of the year, strengthening significantly against the U.S. dollar.
Fluctuations in the ruble exchange rate are occurring at fairly strong levels, so it is not worth talking about a systematic weakening of the exchange rate, Russia's Central Bank Deputy Governor Alexei Zabotkin said.
The euro exchange rate in the Russian interbank market has surpassed 100 rubles for the first time since February 12, 2025, according to trade data.
The US currency continues its upward trend for the second consecutive day. The day before, it rose above 80 rubles for the first time in a month and a half, while today it exceeded 82 rubles.
The Russian ruble has become the world's top-performing currency in the first half of the year, according to an analysis of global trading data. It surged nearly 45% against the U.S. dollar.
