An official exchange rate of the Russian Ruble (RR) against the Tajik national currency, the somoni (TJS), set by the National Bank of Tajikistan has risen 16 percent over the past week – from 0.1481:1 on April 4 to 0.1715:1 on April 11.
The exchange rate of RR against TJS is rising because of increase in the exchange rate of RR against the U.S. dollar (USD).
Thus, USD last week valued at about RR80.00, roughly the same exchange rate in effect before Russia launched the so-called “special military operation” in Ukraine on February 24. Western sanctions had initially ravaged the Russian currency—but it has bounced back.
The aim of sanctions was to hit the Russian currency, and West did that through the central bank sanctions. The Russian authorities have targeted restoring the value of the currency as a major objective.
According to experts, they are completely manipulating the market for the Russian currency, insofar as they control it at home. They are reportedly restricting the way in which foreigners who’ve invested in Russia—or anyone else for that matter—can sell rubles.
And on the other hand, the Russian authorities are reportedly creating artificial sources of demand for the ruble because ultimately it is the balance between the demand and supply that determines the value of the currency.
Russian experts consider that the ruble is rising because demand for it is greater than supply.
The exchange rate of RR against USD set at the Moscow Exchange at the end of last week was 72:1, last seen on June 20, 2021.
The official exchange of TJS against USD remains the same – 12.50:1, while the official exchange rate of TJS against the Euro rose from 13.80880:1 on April 4 to 13:5775:1 on April 11.
