OREANDA-NEWS During currency trading on the Moex on Friday, May 6, the ruble fell against the dollar and the euro. The Russian currency lost more than 4.5% compared to the close of the previous session. According to the exchange, at 15:07 Moscow time, the dollar exchange rate increased by 4.85% to 70.25 rubles, the euro exchange rate increased to 74.17 rubles (+5.66%).

The Moscow Stock Exchange index fell by 0.83% to 2,384.85 points. The RTS dollar index lost 4.14%, falling to 1,073.57 points. The day before, on May 5, the dollar exchange rate fell below 66 rubles for the first time since March 2020. On May 4, the euro exchange rate reached values below 70 rubles for the first time since February 2020.

According to Nikita Maslennikov, head of the Finance and Economics department at the Institute of Modern Development, the ruble exchange rate is largely artificial, now it has grown mainly due to the sale of foreign exchange earnings by exporters. You can keep this revenue, but it is unclear what to do with it further in the face of sanctions, he explained. In his opinion, excessive strengthening of the national currency carries certain risks for the budget. When the ruble rises in price, there are fewer deductions necessary to finance anti-crisis expenses.