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4%), respectively. The monthly average
exchange rate of the ruble also declined (-5.8% MoM).
The range of ruble exchange rate fluctuations remained elevated in
Exchange Rate of US Dollar Against Ruble*.......................................................................................................... 65
3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 67
3.2.3. Official Exchange Rate:
market respectively); and denote the domestic and foreign interest rate;
is the nominal reciprocal exchange rate; is a fixed income tax rate; , is the median
71. 2021;
– Burova A., Egorov K., Mukhin D. Foreign Currency Debt
and Exchange Rate Pass-Through. 2022;
– Khabibullin R., Ponomarenko A. An empirical behavioral
model of
price growth in this segment were increased
procurement prices, changes in the exchange rate, and higher costs of similar products in the
market.
Price expectations
the surveys of banks as of 1 March 2023.
6
At the exchange rate as of 1 April 2023.
Financial Stability Review
53 No. 1
608
27.06.2023
exchange rate, or the effect of the exchange rate pass-through to prices. Empirical research shows that the short-term (e.g. after three months) exchange rate
output.
Exchange rate
In May 2023, the ruble strengthened against the three main foreign currencies traded in the
market. In monthly terms, the exchange rate
MAIN WORLD CURRENCIES Chart 18
(02.01.2019 = 100)
EXCHANGE RATES IN ADVANCED ECONOMIES* EXCHANGE RATES IN EMERGING MARKET ECONOMIES*
115 140
110
120
105