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531
30.11.2023
access to payment infrastructure in ‘toxic’ currencies
The volatility of the ruble exchange rate in Q2-Q3 2023 was driven by the reduction in the current
532
30.11.2023
market decreased, that is, smaller foreign currency purchases started to influence the exchange rate more strongly. Consequently, the ruble weakened by 21% over June-September. Nevertheless,
exchange
rate or the pace of its movements nor conducts foreign exchange operations to influence
the dynamics of the exchange rate.
The floating exchange rate
significant.
Exchange rate
The ruble exchange rate against the three main traded foreign currencies remained virtually
unchanged in October 2023. The average monthly exchange rate
ruble exchange rate. Since early August, the ruble exchange
rate against the US dollar has been predominantly ranging from 94 to 100. The exchange rate
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22.11.2023
15
Source: Bank of Russia.
3
Monetary conditions remain tight
The ruble exchange rate and OFZ yields have returned to mid-February levels. Risks to financial
MARKET SEGMENTS
1. Exchange rate (foreign exchange channel)
The ruble predominantly strengthened in October. By the end of the month, the exchange rate
was 93.
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20.11.2023
financial assets, operators of digital financial asset exchanges, operators of investment platforms, operators of financial platforms, and credit rating agencies.
2 Federal Law No. 224-FZ,