The Russian ruble (RUB) was supported by month-end tax payments as Russian markets opened steadily on Tuesday, despite persistent investor worries about the prospect of more Western sanctions against Moscow. The RUB trades at the 61.95 mark, or -1.48% against the US dollar (USD) in the North American session on Tuesday. Against the euro (EUR), […]
Last week, the European Union (EU) passed a wide variety of sanctions with the intention of putting more pressure on Russia’s administration, economy, and commerce. The ninth package of EU limitations forbade the provision of any cryptocurrency wallet, account, or custody services to Russian citizens or businesses in addition to other sanction measures. A number […]
The Central Bank of Russia (CBR) and the Russian Ministry of Finance have taken a joint stance on the regulation of cryptocurrency mining within the territory. Bitcoin mining has been on the rise in the energy-rich nation due to the profit potential it brings many Russian residents. During the Kazan Digital Week event, Anatoly Aksakov, […]
Recent reports show that the Russian government is planning to work with allied nations on creating payment channels for cross-border settlements involving Stablecoins. The latest development came from Deputy Finance Minister Alexey Moiseev, as quoted by the Tass news agency. Moiseev explained: “We are currently working with a number of countries to create bilateral platforms […]
Russia has floated plans of buying the currencies of ally countries, such as China, India, and Turkey, to hold on to its National Wealth Fund (NWF), as an alternative to the US dollar and euros. The move comes after the country was sanctioned by the West for its invasion of Ukraine, according to the Bank […]
The Russian ruble slumped against the dollar in a volatile session on Thursday, with the USD/RUB tapping the 58.00 top. This comes ahead of the central bank of Russia’s interest rate decision on Friday. Forecasts expect the bank to bring its rates down by 50 basis points (bps) to 9%. As of the North American […]
The head of Russia’s finance ministry’s Financial Policy Department, Ivan Chebeskov, recently made the clarification that cryptocurrency payments, while recognized by authorities in Moscow as an international transaction tool for small businesses, cannot be used for Russian oil deliveries. Chebeskov explained that the ministry endorses the use of crypto assets as a sort of barter […]
The Russian Ruble traded on a stable momentum against the dollar in the London session on Thursday after recording erratic moves last week amid notable fluctuations in supply and demand on Moscow Exchange. At press time, the single currency had erased most of the daily losses against the dollar as the USD/RUB tapped a low […]
The Russian ruble continued its rally against the dollar in the London session on Thursday as the USD/RUB tapped the 63.98 low. In the US session on Wednesday, the forex pair touched the 63.87 level, its lowest point since February 2020. The surge in ruble strength comes amid capital controls that also saw stock indexes […]
