“The rise in the euro exchange rate is primarily due to the movement in the dynamics of the dollar-euro pair, this is due to the fact that the dollar is very much sagging against the euro in the world foreign exchange market ... If we look at the impact of the coronavirus pandemic on the US economy, then it on average, it fell three times more than the European economy, so it was in a weaker state than the European economy, and this influenced the fact that investors began to partially shift from the dollar to the euro, ”said Ginko.
The expert also noted that the upcoming presidential elections in the United States also affect the behavior of the exchange rate.
According to Ginko, the change in the exchange rate of the dollar and the euro is not directly related to the state of the Russian economy.
"In the Russian economy, nothing is happening that would imply a strong subsidence of the Russian ruble," the RT interlocutor concluded.
Earlier it was reported that the euro rate exceeded 90 rubles during trading on the Moscow Exchange.