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The Russian currency today remained stable at about 80 rubles per dollar, at a time when exporting companies are repaying their domestic monthly debts, converting their foreign currency into rubles. The lack of more significant growth in the Russian currency at this point marks a weakening of the support factor provided by tax payments, which could open the door to the weakening of the ruble.

At 10:15 a.m. During time, the Russian currency gained 0.1 percent to 80 rubles per dollar, but lost 0.3 percent against the euro to 86.94 rubles.

As of today, tax payments are due, but some foreign currency sales may be limited due to holidays in the US and UK.

Local demand for foreign currency is also hurting the ruble at a time when Russian importers are still shifting trade from west to east in search of new trading patterns.

Russian ruble falls to lowest level against the dollar since early April

The relatively stable situation in the energy markets should allow the ruble to hold its position around 80 to the dollar, even when the tax payment period is over, said Bogdan Zvaric, chief analyst at

Russian stock indices rose in today's early trading, with the rouble-based MOEX index hitting a record high on April 5, 2022, rising 0.8 percent from Friday.

Dollar-denominated RTS added 0.9 percent to 1064,8.<> points.


Russian ruble