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Russian ruble continues to rise against the dollar

The dollar/ruble parity, which has been declining since Russia announced that it will be paid in rubles for natural gas exports to Western countries, dropped to 83 for the first time since February 25.

Russian ruble continues to rise against the dollar

According to Moscow Stock Exchange data, the dollar/ruble parity decreased by 6.65 percent to 83.7, and the euro/ruble parity decreased by 4 percent to 92.8.

The dollar/ruble parity, which was traded in the pre-war band of 80 in Ukraine, which started on February 24, went up to 120 on March 9, fell by about 30 percent from this level and fell to the level of 83 for the first time since February 25.

Analysts reported that, in addition to the ruble payment step for Russian gas, some positive progress as a result of the Ukraine-Russia negotiations held in Istanbul today also supports the Russian ruble.

Payment period in rubles for gas exports
On March 23, Russian President Vladimir Putin announced his plan to switch to Russian rubles for payments for natural gas sales.

Emphasizing that Western countries took illegitimate steps by freezing Russian assets, Putin said, "The West actually damaged confidence in their own currencies. Now everyone knows that obligations in dollars and euros may not be fulfilled." he had spoken.

Pointing out that it is meaningless for Russia to receive payments in dollars and euros for exports, Putin said, "It is clear that receiving payments in dollars, euros and some currencies while supplying our goods to the USA and the EU does not make any sense for us anymore. Natural gas to unfriendly countries We are planning to switch to Russian rubles for the payments of the sale. he said.

German Minister of Economy and Climate Protection, Robert Habeck, said in a statement yesterday that Russia's demand to switch to rubles for natural gas payments is unacceptable.

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