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431
09.07.2024
Sanctions against Moscow Exchange have minimal impact on ruble/US dollar and ruble/euro rates
9 July 2024
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The imposition of
432
02.07.2024
with persistently high demand for imports might create risks to the ruble exchange rate and inflation dynamics.
• High and unanchored inflation expectations that are sensitive
with persistently high demand
for imports might create risks to the ruble exchange rate and inflation
dynamics.
Summary of the Key Rate Discussion
9
• High
months (SAAR*), % (right-hand scale)
* SAAR – seasonally adjusted annual rate.
Sources: InFOM, Bank of Russia, Interfax, Moscow Exchange.
Inflation Expectations and Consumer Sentiment
4 No. 6
2024, Bank Indonesia suddenly increased its policy rate and
announced foreign exchange interventions to stabilise the rupiah exchange rate. In March 2024,
the Bank of
Table 3
Change in indicators in January–March 2021 Values of indicator
Exchange rate
10-year 5-year 10-year 5-year
of national
Country Stock index government sovereign
are more and less responsive to exchange rate dynamics
are very close (Chart A-28), which suggests that exchange rate fluctuations have the minimum
impact on
15).
• Exchange rate (foreign exchange channel)
The ruble exchange rate strengthened slightly at the end of May. The average monthly RUB/USD exchange
rate demonstrated
Exchange Rate of US Dollar Against Ruble*.......................................................................................................... 64
3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 66
3.2.3. Official Exchange Rate:
440
12.06.2024
will still be traded in the over-the-counter market.
To set the official exchange rate of the US dollar and euro against the ruble, the Bank