The U.S. dollar on the Moscow stock exchange dropped below 58 rubles for the first time since August 19. The Euro is trading at 56 rubles for the first time since July 21. Yesterday, the USDRUB exchange rate for the first time in two months closed below the level of 59 rubles/$. The euro also plunged to its two-month minimum level. The strengthening of the ruble was backed by the increased supply of foreign currency by exporters who are preparing to pay taxes. The supply of currencies from "unfriendly" countries is also growing on the part of private investors, who are concerned about the increased risks of blocking foreign currency accounts.

By next Monday, companies must pay the MET, VAT and excise taxes totaling more than 1.6 trillion rubles to the budget, which is 15% more than similar payments in August. A full-fledged weakening of the ruble on the news of partial mobilization in the Russian Federation apparently did not materialize, which probably provoked an increase in the supply of foreign currency from exporters. Additional pressure on foreign exchange rates is exerted by the aggravation of the geopolitical situation. Whereas on Monday this news caused a short-term increase in demand for currencies, then on Thursday their supply from private investors increased.

The currencies’ plunge against the ruble is occurring while being reinforced by increased traders activity. According to the Moscow Exchange, the volume of transactions with the dollar for delivery "tomorrow" amounted to almost 124 billion rubles, the highest result since August 12. The euro trading volume increased by 1.5X on a daily basis and reached 71 billion rubles. At the same time, the volume of trading with the Chinese currency showed the second highest result in history – 86.6 billion rubles, slightly losing to the record figure of the previous day.