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I + , S = + 4*Un + , S = + 5*Sl + , 13 Dynamics of the ruble exchange rate. ’Head of the Department of Monetary Policy of the Central Bank

the floating exchange rate regime for the ruble. The Bank of Russia does not set any restrictions or benchmarks for the ruble exchange rate or

OF THE NOMINAL EXCHANGE RATE Chart 13 INDEX OF THE REAL EFFECTIVE EXCHANGE RATE Chart 14 OF THE RUBLE AND THE EXCHANGE RATE OF THE

11) 2022 Q2 EXPORTS AND OIL PRICE Chart 1 IMPORTS AND RUBLE EXCHANGE RATE Chart 2 63х82 63х82 Billions of US dollars % YoY Billions of

As before, the remaining funds can be withdrawn in rubles at the exchange rate set by the bank. The amount paid may not be lower

exchange rate reached 51.45 rubles per US dollar (+ 16.3%) for the first time since April–May 2015. On average, the ruble exchange rate

financial market was shaped by domestic factors. Absent the fiscal rule, the exchange rate posted increased volatility and sensitivity to developments in global commodity markets.

dollar real exchange rate and is the logarithm of the logarithm of the ruble/dollar nominal exchange rate. The ruble/dollar nominal exchange rate (29

and precious metals is converted to rubles using the period average USDRUB exchange rate. Mortgage loans net of claims acquired by banks. Source: Bank of

to exchange rate targeting. However, we do not deny the possibility of foreign exchange interventions. Interventions are also possible with a floating exchange rate, but