AUD/RUB settles below 3-week high, posts weekly gain
The AUD/RUB currency pair settled below recent high of 53.624, its strongest level since April 3rd, in the wake of the Bank of Russia’s policy decision.The Bank of Russia (CBR) left its key policy rat
The AUD/RUB currency pair settled below recent high of 53.624, its strongest level since April 3rd, in the wake of the Bank of Russia’s policy decision.
The Bank of Russia (CBR) left its key policy rate without change at a record high of 21% at its April meeting, in line with market consensus.
The central bank noted that despite inflationary pressures were gradually easing, they were still elevated.
The CBR warned a further slowdown in global economic growth and a slump in oil prices could increase inflationary pressure through the Ruble’s exchange rate dynamics.
The CBR projects inflation to ease to 7.0%–8.0% this year and return to 4.0% by 2026. It also kept its 2025 GDP growth forecast without change at 1% to 2%.
In the meantime, US President Trump’s envoy, Steve Witkoff, met Russia’s President Vladimir Putin in Moscow yesterday to discuss the US plan to end the war in Ukraine, while Kremlin foreign policy aide Yuri Ushakov described the meeting as constructive.
The AUD/RUB currency pair settled 0.89% lower at 52.816 on Friday.
The exotic Forex pair gained 0.98% for the week.
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