The euro lost more than 2% against the ruble on Tuesday, making the Russian national currency reach the highest level since July 2020 as the country's central bank hinted at further interest rate cuts in its latest statement that could happen as soon this week.
According to market estimates, the Bank of Russia is expected to lower interest rates from 17% to 15% after the Friday meeting. The euro plunged 2.12% against the ruble to trade for 79.25717 at 1:44 pm CET, while the dollar tumbled 1.83% to 74.26780 rubles.
