OREANDA-NEWS. The ruble was among the top three currencies that grew against the dollar last year, an expert at the RANEPA under the President of the Russian Federation, economist Vladislav Ginko, told Live 24. The sanctions imposed against Russia changed the previously existing global financial system, he believes.

Now new rules of financial relations are being formed in global finance, in which the Russian ruble is beginning to play a leading role. The fact is that the former global financial system was based on the dollar as a convenient means of payment,” Ginko said.

He added that it is important to accumulate resources in Russian rubles, which is what the Russian government is doing.

It was also reported that the Bank of Russia lowered the dollar on May 14-16 to 63.78 rubles. This is more than two rubles lower than the previous value, while the euro has been lowered by almost three rubles, to 65.79. The Central Bank of the Russian Federation sets the official exchange rates of foreign currencies against the ruble on working days, using the market rates of the Moscow Exchange.

The ruble can collapse again and reach a historical minimum if commodity prices fall several times and stay at low levels “at least for several years,” said Dmitry Babin, an expert on the stock market at BCS World of Investments. It is also possible in the event of a complete ban on the supply of Russian raw materials.