The Russian currency reached the level of 90 rubles per dollar yesterday. However, the exchange rate is worse on the interbank market. Negotiations between Ukraine and Russia will be crucial for the further development of the value of the Russian currency.
The Russian ruble strengthened to RUB 90 per dollar during trading in Moscow yesterday, and is thus approaching the monthly maximum. However, Russian shares continued to weaken on the third day after trading resumed after a month-on-month hiatus.
The Russians are panicking, buying pads, diapers, medicine and sugar
Paradoxically, fuel and heating are probably the only items that have not become more expensive in Russia. Otherwise, the prices of everything are rising. If the war lasted a year and inflation rose at the current rate, commodity prices would triple.
According to analyst Dmitry Polevoy of Locko-Invest The ruble is supported by ongoing capital controls and the fact that sanctions are no longer tightened. However, the ruble was weaker on the interbank market, traded for less than RUB 96 per dollar. Further negotiations between Russia and Ukraine, scheduled for Tuesday, will be crucial for the further development of the exchange rate, Reuters reported.
Czech banks currently do not offer the ruble at all and have removed it from their exchange rates.
The Russian market is gradually reopening after trading on it suspended due to extensive Western sanctions following the Russian attack on Ukraine on February 24. Russian stocks and bonds resumed trading in full yesterday, albeit in a shorter timeframe and with various restrictions, including ban on speculation on falling prices, so-called short-selling. Investors who do not have Russian citizenship are prohibited from selling stocks and ruble bonds until April 1.
Pork is also becoming more expensive. The Czechs will feel the price increase by tens of percent already at Easter
Pork on the stock exchange, which determines prices in the Czech Republic, has risen in price since the Russian invasion by 60 percent. And the price will go even higher. Before Easter, domestic meat retailers will try to take advantage of the panic on the market and, as with fuel, increase margins.
Shares on the Moscow Stock Exchange weakened yesterday, with the exception of shares of the air carrier Aeroflot, which added five percent after reaching its lowest level since 2009. The main stock index MOEX ended 2.15 percent to 2430.70 points.
The Russian government has promised to support Russian companies by buying their shares for money from the National Wealth Fund.
Russia is falling into the abyss. China can only help him a little
Due to sanctions and war, Russia will lose the result of economic growth over the past fifteen years by the end of next year. The Asian powers will not burn their fingers, because the West is a bigger partner for them, writes economist Lukáš Kovanda in a commentary.
Zelensky spoke to Russian journalists. He did not rule out neutrality, he still demands a meeting with Putin
In an interview with Russian journalists, Ukrainian President Volodymyr Zelensky flatly rejected Moscow’s claim that Kyiv was the first to attack separatist-dominated parts of Ukraine’s Donbas. Moscow justifies the outbreak of war against Ukraine with the existence of an alleged document on preparations for the Ukrainian attack.
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