Euro hits 100 rubles as ruble weakens
Furthermore, since June 8, 2026, the Central Bank has changed the method for calculating the official euro rate: it is now determined through the off-market dollar-to-ruble exchange rate and the European Central Bank's euro-to-dollar rate.
Consensus
- The euro reached 100 rubles on the foreign exchange market for the first time since mid-March.
- The ruble has weakened significantly, with the dollar trading above 86 rubles.
- The weakening of the ruble is linked to geopolitical tensions and falling oil prices.
- There is increased demand for foreign currency from both the population and corporate sectors.
- The official exchange rate set by the Central Bank of Russia differs from the interbank market rate due to changes in calculation methodology.
- The ruble's decline has been ongoing since early August, with the euro rising from 91.19 rubles on August 1 to over 100 rubles by late August.
Points of divergence
- The euro briefly reached 100.5 rubles on the Forex market. — tg_istories_media
- The visit of CIA Director John Ratcliffe to Moscow on August 25 contributed to market reaction due to geopolitical concerns. — tg_istories_media
- The White House and CIA denied reports that Ratcliffe warned Putin against attacking Baltic states. — tg_istories_media
- The U.S. military aircraft transporting Ratcliffe to Moscow was a U.S. Air Force plane. — tg_istories_media
- The agricultural sector reacted negatively to the escalation risk, with wheat futures rising to their highest level since July 2023. — tg_istories_media
- The official exchange rate of the euro was set at 100.30 rubles by the Central Bank of Russia, an increase of 2.01 rubles from the previous day. — fontanka
- The Central Bank changed the method of calculating the official euro rate in June 2026, basing it on the dollar-ruble rate and the ECB's euro-dollar rate due to low trading volume in the direct euro-ruble pair. — fontanka
- The rise in the euro is partly due to expectations of a September rate hike by the European Central Bank, as indicated by the July meeting minutes. — fontanka
Coverage (3 sources)
- Euro again 100 rubles. What is pressing on the ruble — Радио Свобода
- Ruble fell to a minimum in 1.5 years amid geopolitical uncertainty. Euro exceeded 100 rubles for the first time since March... — Важные истории
- Euro again at 100. Why the ruble is weakening and what it means for the Russian budget — Фонтанка