Russian ruble rises in value

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: March 28, 2022 | 6:45 PM

The euro exchange rate has dropped below 100. On the morning of March 28, temperatures dropped to 97.5 before rising to 103. The European currency had fallen by 6.7 cents to 98.3 cents per euro as of 17:48 Moscow time.

The value of the ruble has risen in response to the Russian Central Bank’s efforts to strengthen the national currency.

Putin’s announcement to switch to the Russian ruble in payments for natural gas supplies to Russia-unfriendly countries also supported the national currency. Last week, reports of such a transition caused the US dollar rate to fall below ₽100 and decline to the level of ₽96 by the end of Friday.

The details of Russia’s decision to switch to ruble payments for natural gas supplies are to be disclosed by March 31.

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About Pelumi Emmanuel

Pelumi Emmanuel is an accomplished writer and journalist with over 15 years of experience in the industry. He is a passionate and dedicated professional who is committed to producing high-quality content that informs, engages, and entertains readers. Pelumi’s love for reading and writing is evident in his work, which has been read worldwide and has garnered him a loyal following. His journalistic expertise is matched only by his natural talent for storytelling, making his articles both informative and engaging. He lives in California, USA.