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Ah currency controls! They are propping it up

This is via Kommersant

Government interventions, including verbal ones, have contributed to the strengthening of the Russian currency.

On Friday, the dollar exchange rate on the over-the-counter market fell below 106 rubles/$, while two days ago it rose above 115 rubles/$, and the yuan exchange rate fell to 14.5 rubles /CNY .

Analysts estimate the fundamental exchange rate of the dollar even lower, but in the current situation it will remain in the range of 100–110 rubles/$, including against the backdrop of increased budget spending at the end of the year and the pre-holiday surge in consumer activity.

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https://t.me/kommersant/75283

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Nadin Brzezinski
Nadin Brzezinski

Written by Nadin Brzezinski

Historian by training. Former day to day reporter. Sometimes a geek who enjoys a good miniatures game. You can find me at CounterSocial, Mastodon and rarely FB

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