Page 56 - RusRPTSept20

7.0 FX
RUSSIA -FX
2016
2017
2018
3Q18
4Q18
1Q19
2Q19
3Q19
4Q19
1Q20
2Q20
July- Aug 2020
Currency (units per EUR) (eop)
64.8
68.9
79.5
81.0
79.5
72.9
72.1
71.5
69.8
76.3
78.9
86.5
Currency (units per USD) (eop)
61.5
57.6
69.5
70.0
69.5
64.8
64.3
64.7
63.0
69.3
71.7
73.3
Currency (units per EUR) (average)
74.4
65.8
74.0
76.0
76.1
75.1
72.6
72.0
69.7
73.3
79.5
84.2
Currency (units per USD) (average)
67.2
58.4
62.7
65.5
66.7
66.1
64.6
64.7
62.9
66.5
73.8
72.5
The dollar rose by 0.9% and reached RUB76 to the dollar during the trading session on the Moscow Exchange on August 26.The euro added 0.5% and climbed to RUB89.61. The ruble gained 22% YTD as of the last week of August. Tim Ash, senior sovereign strategist at BlueBay Asset Management, says the weakness of the ruble is due to a combination of factors, including:
* US election risk – Biden is expected to be more hawkish on Russia;
56 RUSSIA Country Report September 2020 www.intellinews.com