The Central Bank of Russia announced on Tuesday a reduction in the exchange rate of major currencies against the ruble, noting that the official exchange rate for the dollar has fallen to about 81 rubles, the euro to 90 rubles, and the Chinese yuan to 12 rubles.
In a statement, the Central Bank said that the decline in foreign currency rates against the ruble reflects movements in the local exchange market, as the Russian currency is influenced by foreign currency inflows from exports and local demand for currencies, in addition to the monetary and fiscal policies being implemented.
