Russian ruble continues to depreciate

By Emre Gurkan Abay

MOSCOW (AA) - The dollar/ruble parity exceeded the 98 level for the first time since March 2022.

The ruble lost about 0.88% against the dollar on the third trading day of the week.

Experts said that in addition to the increase in imports, the increase in the demand for foreign currency by Russian citizens for vacation during the summer season is affecting the depreciation of the ruble.

The Russian Finance Ministry announced on Aug. 3 that it would resume foreign exchange purchases in the domestic market for the first time since January 2022.

*Writing by Gokhan Ergocun from Istanbul