OREANDA-NEWS  The Bank of Russia has set official exchange rates for Friday, August 16, recording a sharp strengthening of the ruble. The dollar lost 1.2 rubles, falling to 88.8 rubles, and the euro lost almost two rubles, falling to 98.32 rubles, according to the Central Bank's website.

The yuan dropped by 14 cents to 11.93 rubles. Earlier this week, the Russian currency fell against the dollar and the euro to multi-month lows. The dollar exchange rate exceeded 92 rubles for the first time since May, and the euro exchange rate exceeded 100 rubles for the first time since April.

The Moscow Stock Exchange index lost more than a percent and moved back towards an annual low. As of 6:10 p.m., it had dropped to 2,837 points, although it had risen above 2,900 points the day before.

Earlier, experts explained anomalies in the official dollar exchange rate, including high volatility and divergence from the yuan exchange rate, weak activity of arbitrageurs, as well as worsening settlements with China. The latter circumstance could lead to an increase in demand for the American currency.