OREANDA-NEWS In May 2026, the demand of Russians for the purchase of foreign currencies increased sharply. This is reported by the Izvestia newspaper with reference to market participants.

Over the last month of spring, the volume of such transactions in large banks increased by almost a third (plus 31 percent) compared with the figures recorded at the beginning of the year. Russians, in particular, showed increased interest in dollars, euros and yuan.

The main reason for the high demand of citizens for foreign currencies was the noticeable strengthening of the ruble. By the end of spring, the Russian currency had strengthened by almost 12 percent, to 71 rubles per dollar. Similar dynamics were recorded in pairs with other key units of account. This made the purchase of dollars, euros and yuan more attractive to citizens, experts said.

In early summer, the ruble, on the contrary, began to weaken rapidly against the world's leading currencies. This trend was influenced by a number of factors, including the decline in oil prices amid the gradual normalization of the situation in the Middle East, as well as the foreign exchange interventions of the Ministry of Finance. Against this background, Nikita Eurov, Alfa Bank's currency and interest rate strategist, predicted a strengthening of the dollar to 75-80 rubles by the end of the summer.