The Russian ruble (RR) is continuing to depreciate in Tajikistan. Since the beginning of the week, RR has lost nearly 9 percent in its value against the Tajik national currency, the somoni (TJS).
An official exchange rate of RR against TJS set by the National Bank of Tajikistan (NBT) fell from 1:0.1334 on March 12 to 1:0.1288 on March 13 (4.2 percent decline).
Meanwhile, the official exchange rate of RR against TJS fell from 1:0.1413 on March 9 to 1:0.1346 on March 10 (4.7 percent decline).
The Russian ruble depreciated in Tajikistan following the Black Monday (a coronavirus-triggered oil price collapse.
RR slid more than 10 percent against TJS. The market exchange rate of RR against TJS fell on March 9 from 1:0.145 to 1:0.130.
On March 9, while Russian markets were closed following International Women’s Day, the value of the ruble on the online exchange Forex plummeted, leaving the Russian currency at 75 per dollar and 85 per euro. When the Moscow Exchange closed on Friday, it only took 68 rubles to buy a dollar and 80 to buy a euro.
The ruble’s rapid depreciation was caused by a collapse in oil prices Monday morning: The cost of oil fell by 25 percent, the largest single-day change in the 21st century so far.
