On December 27, 2024, the Central Bank of Russia (CBR) reported notable shifts in the currency exchange rates. The US dollar decreased by 0.3830 rubles, settling at 99.2295 rubles, and the euro fell by 0.6419 rubles to reach 103.2997 rubles. The Chinese yuan also dipped, losing 0.1338 rubles to finish at 13.4716 rubles.
For precious metals, the CBR established the following prices: gold decreased to 8,338.65 rubles per gram, silver dropped to 94.05 rubles per gram, platinum fell to 3,005.26 rubles, and palladium was priced at 3,040.26 rubles per gram.
The currency exchange situation was not exclusive to Russia. According to EADaily, Turkey's economic indicators show the Turkish lira was exchanged at 2.82 rubles, down from 2.83 rubles. The exchanges for US dollars and euros against the lira were 35.15 and 36.61 lira, respectively, indicating slight decreases as well.
Meanwhile, the Belarusian currency market reflected notable fluctuations. The dollar began at 3.4071 BYN (Belarusian rubles) for 1 dollar, with trading ranges throughout the day showing it could drop as low as 3.407 BYN before closing at 3.4301 BYN. Over the week, the dollar fell by 0.0167 BYN (0.48%) and by 0.1029 BYN (2.91%) over the month.
The euro also faced downward pressure, registering at 3.5615 BYN, which reflects a decrease of 0.0185 BYN since the previous trading week. Yearly analysis indicates the euro has only increased by 0.0415 BYN (1.18%) since the start of the year.
Interestingly, the value of the Russian ruble relative to the Belarusian ruble decreased by 0.0038 rubles, now at 3.4056 BYN/100 RUB, showcasing how dynamic the currency markets are during this period.
Observations from the Belarusian currency exchange suggested the significant drop of the dollar within four days to its lowest level since 17 days prior. An increase was observed back on this fifth day, which brought the dollar's value up by 0.0231 BYN to 3.4301 BYN/USD.
Dexterous trading activities leading up to the end of the year have also been captured, with December being particularly volatile for currency exchanges overall. The most significant dollar trading volume during this timeframe saw nearly $50.7 million, diminishing to about $27.7 million the following day.
The pivotal upcoming day for currency exchanges is December 30, 2024, marking the last trading session of the year.
Notable is also the behavior of commodity prices—the fluctuations often correlated with currency values indicate potential impacts on financial planning and investor decisions moving forward. The CBR's future actions, including the resumption of currency purchases as of January 2025, may also yield significant shifts depending on economic conditions and global market trends.
