MOSCOW, July 7. /TASS/. The total volume of foreign exchange transactions in Russia in June increased by 27% compared to May, and the number of such transactions – by 21%, according to a study by Russian Standard Bank.
“The beginning of the summer holidays and vacations season, despite the decline in global tourism flows due to the pandemic, showed the growing demand of Russians for currency exchange. In June 2021, this growth was facilitated not only by the traditional demand for foreign currency for traveling to open countries, and also the desire to buy or sell currencies at favorable rates in conditions of moderate volatility,” the study noted.
According to the bank, in June, people more often sold foreign currency (57% of transactions) than bought (43%). The number of transactions with dollars in June was 2.2-fold higher than with euro. The average check for one transaction with dollars in June was $915, and with euro – 863 euro.
“In June, the euro fell against the dollar, and the ruble strengthened against the foreign currency to the levels of 2020. One of the peaks of growth in exchange rates fell on June 30. It was facilitated by the end of the tax period, as well as the demand for foreign currency from non-residents,” Head of Financial Markets Operations at Russian Standard Bank Maxim Timoshenko said.
According to the expert, in June, fluctuations in the ruble exchange rate were mainly caused by the meeting of the presidents of Russia and the United States, prices on commodity markets, as well as an increase in the key rate of the Bank of Russia.
from WordPress https://ift.tt/3jPz0nx
via IFTTT
No comments: