Russian ruble on a top of two years in light of the upcoming talks with Ukraine

The exchange rate of the Russian ruble reached its highest level in two years in exchange for the US dollar, with the negotiators reaching Turkey in light of the expectations to hold the first direct discussions between Moscow and Kiev since 2022, and local demand for foreign currencies has decreased. The optimism about the possibility of the Kremlin’s war against Ukraine supported the Russian currency this year, as US President Donald Trump’s efforts to end the fighting end. Data released by the Bank of Russia on Wednesday night showed signs of a decline in domestic foreign exchange demand. The Russian ruble has risen the strongest price for the Russian currency in two years to 80.2237 against the US dollar in the local market, which is the strongest level since May 31, 2023, according to the Bank of Russia data. Since June last year, the Russian Central Bank has relied on bank transactions to calculate the exchange rate, after the United States set up sanctions on the Moscow Stock Exchange. Despite the announcement of Russian President Vladimir Putin Wednesday night that he will send a low -level delegation led by Vladimir Midinski for the expected negotiations today in Istanbul with Ukraine, it will be the first direct discussions with Kiev since 2022. The exchange of Russia in the final round of the talks had a protocol concept that included Russian claims, Putin said, Putin said, Putin said. Later, Ukraine was widely accepted by Ukraine, an allegation that rejected the Kyiv government. In addition to expectations with improvement in the geopolitical situation, the Russian ruble received support from the stability of currency flow from the exporters, in addition to high interest rates, according to the central bank. The Bank of Russia has maintained the basic interest rate at record levels with the aim of combating inflation, creating a favorable environment for interest trading and supporting the local currency. The Central Bank report released yesterday indicated that the appetite for the purchase of foreign currencies in Russia is gradually declining, and that it has already fallen to the lowest levels since the imposition of sanctions on the Moscow stock exchange, and the suspension of the Circulation of the US Dollar and the Euro. According to the bank, according to the bank, currency sales dropped only 2% despite the significant decline in oil prices, suggesting that exporters still turn their revenue to the Russian ruble at a stable rate. At the global level outside the main markets, Russian ruble record gain this year has surpassed 40%, better than gold, to become the best performance in 2025 so far.