The dollar rose to ₽72 as Putin and Biden met 

16-06-2021

While waiting for the meeting between Vladimir Putin and Joseph Biden since April 2021, the exchange rate of the Russian currency increased by 7%. In addition, during this period, the ruble also received support due to the increase in the Central Bank rate and oil prices. 

On 16.06.2021, the dollar exchange rate temporarily exceeded ₽72. The jump occurred immediately after the welcoming handshake of the heads of Russia and the U.S. at the summit in Geneva. Experts suggest that such a rollback of the Russian currency is a short-term phenomenon. In the near future there is a probability that the dollar rate will fall to 70 rubles. 

The recent strengthening of the ruble is largely due to the expectation of stabilization in relations between Russia and America. The latter has repeatedly declared its readiness to ease sanctions and reduce tension between the countries. For its part, Russia is not confident that the situation will change significantly and suggests that the outcome of the summit may disappoint investors.

Ruble exchange rate from June 9 to 16, 2021

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