MOSCOW, April 9. /TASS/. The volatility of the ruble continued to decline and at the end of March reached its lowest levels since the third quarter of 2021, as follows from the materials of the Bank of Russia.

"At the end of March, the ruble's exchange rate fell marginally. The depreciation of the exchange rate reported in January-February 2024 was primarily explained by a fall in foreign currency revenues from exporters, which were on average 20% lower than in November-December 2023. This trend persisted in March, but sales climbed dramatically in the last week of the month, exceeding the values of November and December by 10%. However, this did not result in the strengthening of the exchange rate. At the same time, the ruble volatility continued to drop and, by the end of the month, reached its lowest levels since the third quarter of 2021," the regulator noted.

According to the Bank of Russia, the ruble's actual effective exchange rate, evaluated in respect to the currencies of its major foreign trade partners, fell by 2.4% in February (-14.8% year-on-year). According to preliminary data, this figure declined by 1% in March compared to February, falling below the current median value (-9% from January 2015 to February 2024).