Russian Ruble Crosses ‘Line Of Shame’

Along with it, the Belarusian ruble also collapsed against the dollar.

On November 22, the dollar exchange rate on Forex exceeded 103.75 Russian rubles, rising by more than 2% at one point. The Chinese yuan showed comparable growth, breaking through the 14.3 Russian ruble mark. The euro passed above 108 Russian rubles, strengthening by 1.5%.

Today, according to data as of 12:00 (Minsk time), the dollar is trading in Russia at 103.23 Russian rubles (an increase of 2.19%).

“I believe that the main reason for this dynamic is the depreciation of the Russian national currency, and not the strengthening of foreign currencies. The driver of the negative dynamics of the ruble was the latest escalation of the conflict between Russia and the West due to military actions in Eastern Europe. The adoption of another package of sanctions in the United States put additional pressure on the Russian currency exchange rate. As a result, cross-border money transfers via SWIFT and the Chinese international payment system UnionPay are closed for dozens of Russian banks, including Gazprombank. Most of the creditors affected by these restrictions recommended that their clients abroad withdraw cash from their accounts,” explained Freedom Finance Global analyst Vladimir Chernov.

This past week, by the close of Saturday trading on the Belarusian Currency and Stock Exchange, the dollar again strengthened significantly against most world currencies on external markets, including the euro, Russian ruble and yuan.

The dollar exchange rate following trading on the Belarusian Currency and Stock Exchange (BCSE) was 3.4270 rubles on Friday.

Thus, the rate increased by 0.35% compared to the previous day. At the same time, the dollar has been growing since November 6.

It was previously reported that the republican budget of Belarus is formed based on the assumption that the average dollar exchange rate in 2025 will be 3.35–3.37 rubles.

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