Ruble hits 6-month low vs dollar
The increase in foreign currency inflows to the Russian Federation as a result of high oil prices in previous months has shifted the dollar exchange rate range to the 77-82 ruble boundary.
Consensus
- The Russian ruble strengthened against the US dollar in the week leading up to October 26, 2026.
- High oil prices, particularly above $110 per barrel for Urals crude, contributed to ruble strength.
- Exporters increased their supply of foreign currency, supporting the ruble.
- The upcoming tax payment deadline on October 28 was expected to provide further support to the ruble.
- Improved geopolitical conditions, including US-Russia talks on Ukraine, contributed to the ruble's strength.
Points of divergence
- The US is undermining confidence in the dollar as a reserve currency, according to Dmitry Peskov, the Kremlin's press secretary. — vm
- Global central banks are buying gold at record rates, with China importing 163 tons in one month, while Russia is selling its gold reserves (43.5 tons in six months). — vm
- The Bank of Russia's meeting on October 23 had minimal impact on the foreign exchange market, as the central bank maintained its key rate at 14% and adjusted long-term rate forecasts upward. — kommersant
Coverage (4 sources)
- Dollar course. Forecast for October 26–30 — Коммерсантъ
- Dollar course. Forecast for October 22-23 — Коммерсантъ
- What will be the dollar rate from October 19 to 23, 2026 — Вечерняя Москва
- Dollar course. Forecast for October 19-23 — Коммерсантъ