The Russian ruble hits new lows, falling to its weakest level against the US dollar since 2022.

The dollar exchange rate on the international Forex market has risen to 105.2 rubles. This is the highest level the American currency has reached since 2022. The euro and yuan have increased to 110.6 rubles and 14.5 rubles respectively.

This is reported by the Russian service of Radio Liberty.

It is noted that on November 26, the Russian central bank set the official exchange rate at over 103 rubles for the first time since March 2022. By the evening of the same day, one dollar was already being traded for 105.99 rubles. The euro reached 112.91 rubles, while the yuan stood at 14.65. 

Russian Finance Minister Anton Siluanov commented on the situation in the currency market, stating that the Russian ruble benefits exporting companies by offsetting the negative impact of the central bank's high base interest rate. “I’m not saying it’s a good or bad rate. I’m just saying that today’s rate is very, very favorable for exporters,” Siluanov is quoted by Reuters.  

Recall that on November 21, the U.S. Treasury imposed new sanctions against around fifty Russian banks, including Gazprombank. UnionPay cards issued by Gazprombank have stopped working in Hungary, Vietnam, Germany, Kazakhstan, Qatar, Turkey, the UAE, and Thailand.

Background. Earlier, Mind reported that after the introduction of U.S. sanctions against the Moscow Exchange, investors from Russia's "friendly" countries began withdrawing funds from the RF stock market.