Plummeting Russian ruble leaves other currencies in a somber state
On July 24, 2025, significant movements were observed in global currency markets, with the Russian ruble, US dollar, euro, and Chinese yuan all experiencing fluctuations. In Belarus, salary trends also showed variation across different regions.
The Russian ruble depreciated by 1.35 kopecks on July 24, continuing its weakness due to ongoing geopolitical conflicts and economic pressures. The US dollar, however, gained nearly two kopecks, reflecting a technical rebound and underlying flight-to-quality demand amid global uncertainty. The euro increased by one and a half kopecks, buoyed by a weakening British pound and improving European economic fundamentals. Meanwhile, the Chinese yuan appreciated by 2.4 kopecks, outpacing the dollar and euro [1][2][3][4].
The exchange rates on July 24 were as follows: the dollar closed at Br2,9439 for 1 USD, the euro at Br3,4351 for 1 EUR, and the yuan at Br4,1050 for ¥10.
In Belarus, the nominal accrued average salary of workers in June was Br2717.8. The highest incomes were recorded in Minsk (Br3598.2) and the Minsk region (Br2767). Conversely, the lowest salaries were in Mogilev (Br2301.6) and the Vitebsk region (Br2289.1). The Gomel region saw a salary of Br2421.2 [5].
These currency moves were caused by a complex interplay of geopolitical events (Russia's conflict and sanctions), economic indicators (US and European data), and altered trade flows (notably between Russia and China), combined with technical trading factors on the currency markets [1][2][3][4].
References:
- Bloomberg
- Reuters
- CNBC
- Financial Times
The US dollar's gain on July 24, 2025, in the global currency markets was a reflection of a technical rebound and underlying flight-to-quality demand, amidst ongoing geopolitical conflicts and economic pressures, as well as global uncertainty. Meanwhile, the finance industry in Belarus saw a variation in salaries across different regions, with Minsk and the Minsk region recording the highest incomes, while Mogilev and the Vitebsk region had the lowest salaries.
