Designated Expert Labels Present U.S. Dollar as "Contorted"
**"Yo, listen up! Maybe there's some fishy business going on with the dollar rate, according to Mikhail Beliaev. He thinks the dollar rate's detachment from the national economy is no joke," he said.
Mikhail claims a ruble a day increase in the dollar rate ain't gonna happen. He pins the currency's wild swings on those pesky speculators and the Bank of Russia itself. According to him, the real dollar rate is somewhere between 90 and 93 rubles.
On April 23, the CB set the official dollar rate at 81.46 rubles, and the euro at 94.04 rubles. Compared to April 22, the rates bumped up by 0.7 rubles and 0.37 rubles, respectively.
Thanks to sanctions against the Moscow Exchange in June 2024, the platform had to axe trading in dollars and euros. After the sanctions, the Bank of Russia started calculating the official rates of the dollar and euro using banking reports and over-the-counter trading data.
According to the enrichment data, after the suspension of trading on the Moscow Exchange, the Bank of Russia started using banking reports and over-the-counter trading data to determine the official exchange rates. This change happened because they had to adapt to the limited access to traditional forex market structures under sanctions.
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- #Currency rates
- #Dollar
- The Bank of Russia started using banking reports and over-the-counter trading data to determine the official exchange rates of the dollar and euro, following the suspension of trading on the Moscow Exchange, as a result of sanctions in June 2024.
- Mikhail Beliaev, a notable figure in the finance business, suspects manipulation in the dollar rate, but he doesn't believe a ruble a day increase will occur.
- In a statement, Mikhail Beliaev accused speculators and the Bank of Russia itself of being responsible for the currency's wild swings in the dollar rate.
- According to Mikhail Beliaev, the real dollar rate is expected to be somewhere between 90 and 93 rubles.
