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Exchange rate (foreign exchange channel) Despite a decline in the sales of foreign currency earnings in November–December compared to October, the ruble exchange rate

The volume of securities issued in foreign currency is calculated at the exchange rate on the last business day preceding the reporting date. IV.3.

Exchange Rate of US Dollar Against Ruble*.......................................................................................................... 87 3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 89 3.2.3. Official Exchange Rate:

account for the nonlinear effects of the exchange rate and economic activity. The nonlinear effect of the exchange rate will be captured by a dummy

that means some mechanics restriction exchange rate pass through import prices. Equation (A16) describes export that depends on real exchange rate. It is suggested that

Q2–Q3. Furthermore, the exchange rate became less volatile, the difference between the highest and lowest values of the ruble exchange rate against the US

to a stronger ruble compared to the end of 2024. EXCHANGE RATE The ruble exchange rate against the main currencies had been fluctuating within broadly

1%. 10 Monetary Conditions and Monetary Transmission • Exchange rate (foreign exchange channel) In November, the monthly average exchange rate of the ruble against the US

impact materialises over a longer-term horizon. In the short run, the ruble exchange rate is affected by expectations regarding geopolitical developments. The ruble appreciation that

harvest than in the previous year. That said, the effect of the exchange rate on prices in Octo- 5 TALKING TRENDS No. 8 (83) / December