OREANDA-NEWSThe real effective exchange rate of the ruble (against the currencies of the main trading partners of the Russian Federation taking into account inflation) in September 2019 increased by 1% compared to the previous month, data from the Bank of Russia show.

At the same time, since the beginning of this year, the rate has risen by 5.5%. In the third quarter, growth was 0.2% compared to the second and 1.3% compared to the third quarter of 2018. Including the real effective exchange rate of the ruble against the dollar in September increased by 0.6% compared with the previous month (since the beginning of the year it grew by 3.6%). Over the past month, the ruble exchange rate increased by 1.4% (+ 7.2%) against the euro.

The effective ruble exchange rate is calculated based on the exchange rates of the key trading partners of Russia in accordance with the shares of these countries in the foreign trade of the Russian Federation. The unstable situation in the Middle East associated with interruptions in oil supplies to the world market can support the price of oil, which can strengthen the ruble in the short term, but it is unlikely that this form of support will be long-term.