Latest news with #Promsvyazbank
Russia Today
29-05-2025
- Business
- Russia Today
US dollar hits two-year low against ruble
The Russian ruble soared to a two-year high against the US dollar in forex trading on Thursday, supported by positive geopolitical developments and favorable conditions in global oil markets, according to analysts. The Russian currency, which has been strengthening for several months, traded below 78 rubles against the dollar on Thursday afternoon, its strongest level since mid-May 2023. Russia's announcement that it has drafted a peace memorandum and rising oil prices have contributed to the ruble's strength, Yevgeny Loktyukhov of Promsvyazbank told the business daily RBK. Russian Foreign Minister Sergey Lavrov proposed holding the next round of Ukraine peace negotiations in Istanbul on June 2. Meanwhile, US President Donald Trump reiterated that he would not impose anti-Russian sanctions, expressing hope for a resolution to the conflict. Brent crude, the global benchmark for Russia's main export, rose 1.2% to $65.68 per barrel. The improved geopolitical backdrop and favorable oil market conditions should offset the typical month-end dip in foreign currency supplies following tax payments, Loktyukhov said. Oil exporters typically convert foreign currency earnings into rubles at the end of each month in order to settle local obligations, providing support to the Russian currency. Additional support for the ruble comes from ample foreign exchange liquidity in the market and weak demand for foreign currency, according to Natalia Pyryeva, lead analyst at investment firm Tsifra Broker. Some analysts see potential for further gains, projecting the ruble could strengthen to 75 per dollar this month if geopolitical momentum persists. However, they have warned that the rally may be short-lived without tangible progress. Moscow and Washington have resumed high-level diplomatic engagement following US President Donald Trump's return to the White House. He has repeatedly called for a swift resolution to the conflict and a reset in bilateral relations. Last week, he and his Russian counterpart Vladimir Putin held a two-and-a-half-hour phone call, which both leaders described as productive. Earlier this month, Russian and Ukrainian delegations met in Istanbul for their first direct talks since Kiev unilaterally withdrew from the peace process in 2022. As a result of the talks, the two sides conducted the largest prisoner swap to date, with each country releasing 1,000 individuals.
Al Arabiya
29-05-2025
- Business
- Al Arabiya
Russian ruble soars past 78 vs dollar to reach two-year high
The Russian ruble strengthened sharply on Thursday, soaring past the 78 mark against the dollar to reach a two-year high, after Moscow proposed a fresh round of peace talks with Kyiv. The ruble has firmed by more than 40 percent against the dollar this year, a rise analysts have attributed to the easing of geopolitical tensions - mainly with US President Donald Trump's administration - and the central bank's tight monetary policy, which has reduced demand for foreign currency. By 0843 GMT, the ruble was up 1.3 percent at 78.80 per US dollar, LSEG data based on over-the-counter quotes showed, earlier hitting 77.95, its strongest since May 29, 2023. Russia on Wednesday proposed holding the next round of direct talks with Ukraine on June 2 in Istanbul. Kyiv has yet to respond to the proposal. Trump, meanwhile, said he was not yet prepared to impose new sanctions on Russia because he did not want the penalties to scuttle a potential peace deal. That news backdrop, as well as Russia saying it had completed a draft peace memorandum, contributed to the ruble's strength, said Promsvyazbank's Yevgeny Loktyukhov, along with an uptick in oil prices. Brent crude oil, a global benchmark for Russia's main export, was up 1.2 percent at $65.68 a barrel. The improvement of the geopolitical background and the situation on oil markets should compensate for the traditional month-end foreign currency supply squeeze after tax payments are made, said Loktyukhov. Exporters usually convert their foreign currency earnings into rubles to pay local liabilities at the end of each month, buttressing the Russian currency. Against the Chinese yuan, the ruble was up 1 percent at 10.90 on the Moscow Stock Exchange. Russia's central bank uses yuan for foreign exchange interventions, and it is the most traded foreign currency in Russia.
Reuters
29-05-2025
- Business
- Reuters
Russian rouble soars past 78 vs dollar to reach two-year high
May 29 (Reuters) - The Russian rouble strengthened sharply on Thursday, soaring past the 78 mark against the dollar to reach a two-year high, after Moscow proposed a fresh round of peace talks with Kyiv. The rouble has firmed by more than 40% against the dollar this year, a rise analysts have attributed to the easing of geopolitical tensions - mainly with U.S. President Donald Trump's administration - and the central bank's tight monetary policy, which has reduced demand for foreign currency. By 0843 GMT, the rouble was up 1.3% at 78.80 per U.S. dollar, LSEG data based on over-the-counter quotes showed, earlier hitting 77.95, its strongest since May 29, 2023. Russia on Wednesday proposed holding the next round of direct talks with Ukraine on June 2 in Istanbul. Kyiv has yet to respond to the proposal. Trump, meanwhile, said he was not yet prepared to impose new sanctions on Russia because he did not want the penalties to scuttle a potential peace deal. That news backdrop, as well as Russia saying it had completed a draft peace memorandum, contributed to the rouble's strength, said Promsvyazbank's Yevgeny Loktyukhov, along with an uptick in oil prices. Brent crude oil , a global benchmark for Russia's main export, was up 1.2% at $65.68 a barrel. The improvement of the geopolitical background and the situation on oil markets should compensate for the traditional month-end foreign currency supply squeeze after tax payments are made, said Loktyukhov. Exporters usually convert their foreign currency earnings into roubles to pay local liabilities at the end of each month, buttressing the Russian currency. Against the Chinese yuan, the rouble was up 1% at 10.90 on the Moscow Stock Exchange. Russia's central bank uses yuan for foreign exchange interventions, and it is the most traded foreign currency in Russia.
Zawya
23-05-2025
- Business
- Zawya
Russian rouble hovers near two-year high against dollar
The Russian rouble hovered close to a near two-year high against the dollar on Friday, buoyed by limited demand for foreign currency and the prospect of month-end tax payments by major exporters that usually buttress the currency. By 0950 GMT, the rouble was up 0.2% at 79.50 per U.S. dollar, LSEG data based on over-the-counter quotes showed, after hitting 79.32 to the dollar, its highest level since June 2, 2023, on Thursday. The Russian currency has strengthened by over 40% against the dollar this year, a rise analysts have attributed to the easing of geopolitical tensions - mainly with U.S. President Donald Trump's administration - and the central bank's tight monetary policy, which has reduced demand for foreign currency. Against the Chinese yuan, the rouble was down 0.1% at 11.05 on the Moscow Stock Exchange. Russia's central bank uses yuan for foreign exchange interventions, and it is the most-traded foreign currency in Russia. The rouble may again test the support level of 11 to the yuan, supported by the stable situation with oil prices, weak foreign currency demand and the approaching peak of monthly tax payments, said Promsvyazbank analyst Bogdan Zvarich. Monthly tax payments usually see exporters convert their foreign currency earnings into roubles to pay local liabilities. Brent crude oil, a global benchmark for Russia's main export, was down 0.2% at $64.31 a barrel. (Reporting by Alexander Marrow; editing by Mark Heinrich)
Newsweek
19-05-2025
- Entertainment
- Newsweek
Russia Seeks to Ban Game Of Thrones, Harry Potter Over 'Childfree Ideology'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Russia is going after TV series Game of Thrones, Sex and the City, and the Harry Potter franchise in an effort to purge what it claims is the promotion of "childfree ideology." The development comes months after Russia passed a bill banning what state-run news wires describe as the "public propaganda of the ideas of voluntarily choosing not to have children." It comes as Russia grapples with a dwindling birth rate and as President Vladimir Putin scrambles to encourage women to have children. Why It Matters For decades Russia has been experiencing a plunging birth rate and population decline, and this appears to have worsened amid the ongoing invasion of Ukraine, with high casualty rates and men fleeing the country to avoid being conscripted to fight. It is estimated that Russia's population will fall to about 132 million in the next two decades. The United Nations has predicted that in a worst-case scenario, by the start of the next century, Russia's population could almost halve to 83 million, Newsweek previously reported. In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin meets with Promsvyazbank CEO at the Kremlin in Moscow on May 15, 2025. In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin meets with Promsvyazbank CEO at the Kremlin in Moscow on May 15, 2025. ALEXANDER KRYAZHEV/POOL/AFP/Getty Images What To Know On September 1, an order by Russia's telecommunications regulator Roskomnadzor will come into effect which will ban "childfree ideology", local media reported. The "Parliamentary Newspaper", the official weekly publication of Russia's Federal Assembly, reported that films with so-called childfree propaganda "will not receive distribution certificates." "Administrators of digital platforms, including social networks and online cinemas, must promptly remove illegal content," it said. "The dissemination of the ideology of conscious refusal to have children in the media, the Internet, films and advertising is prohibited in Russia." According to the publication, content that will be banned will include information that encourages or justifies the refusal to have children, which creates a positive attitude towards it; informs [viewers] about the advantages of refusing to have children over having children or form distorted ideas about their social equivalence; demonstrates a negative image of pregnancy, motherhood, fatherhood, or create a positive attitude towards childlessness, which can motivate people to refuse to have children. Possible contenders could include Sex and the City, Game of Thrones, House of Cards, and Harry Potter. "Even in the harmless Harry Potter saga, as it seems to us, one can find a hint of childfree [ideology]: Professor McGonagall did not have children. However, it is unknown whether this was a conscious choice or something did not work out," the publication said. Emma Watson, Danielle Radcliffe and Rupert Grint as Hermione Granger, Harry Potter and Ron Weasley in "Harry Potter and the Prisoner of Azkaban." Emma Watson, Danielle Radcliffe and Rupert Grint as Hermione Granger, Harry Potter and Ron Weasley in "Harry Potter and the Prisoner of Azkaban." Warner Bros. A leading Russian demographer said last month that Russia's birth rate has fallen to a historic low, reaching levels not seen since the late 18th to early 19th century. Russian authorities have restricted access to abortions and contraception and have even offered pregnant women payouts in a bid to encourage the population to have children. In 2023, Valery Seleznyov, a member of the Russian State Duma, proposed releasing women convicted of minor charges from prisons so they can conceive. What People Are Saying State Duma Speaker Vyacheslav Volodin, a member of the Russia's ruling United Russia party, said when the bill passed in September 2024: "Without children, there will be no country." The press service of the United Russia party said in September 2024: "The bill banning propaganda of childfree [ideology] was submitted to the State Duma." Elvira Aitkulova, one of the authors of the bill and member of the State Duma Committee on education, previously said that the bill is "about the propaganda of childfree ideology, but not about the lifestyle and choices of each individual." What Happens Next Individuals who violate the ban face fines of up to 400,000 rubles (about $5,000), while officials could be fined up to 800,000 rubles (about $10,000). Companies could be slapped with fines of up to 5 million rubles (about $62,300).
