RUBT Rate on Tetris Money

🟢 USDT/RUBT: 81.63 — Exchange Rate Board

MOEX and Central Bank rate:
🟢 USD/RUB F (MOEX): 81.06
🟢 USD/RUB (CBR): 81.87

🤔 What is moving the market today?

🟢 Increased foreign currency supply ahead of the tax period

In the run-up to tax payments, exporters are increasing sales of their foreign currency revenues to meet ruble-denominated obligations. This leads to a higher supply of foreign currency on the market and provides short-term support to the ruble.

🟢 Inflow of oil and gas revenues

Current energy prices are generating a steady inflow of export foreign currency revenues. These additional inflows strengthen the market supply balance and partially offset the pressure on the ruble seen earlier.

🟢 Decline in speculative pressure and stabilization of expectations

The market has already largely priced in expectations of monetary policy easing. Against this backdrop, speculative positions are decreasing, and exchange rate dynamics are increasingly being driven by real currency flows.

Summary: The ruble is strengthening amid inflows of foreign currency revenues and the tax period, while the current dynamics are largely seasonal in nature and point to a temporary improvement in the balance of supply and demand.

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