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Source: Bloomberg. in the exchange rates of many currencies. Interest rates. In most advanced economies, DYNAMICS OF US DOLLAR EXCHANGE RATE AGAINST Chart 3.1.

the global financial indicators reform. Financial indicators, which represent benchmark interest rates, exchange rates, stock and commodity prices, play a key role in the functioning

OF EME CURRENCIES Chart 9 (02.01.2018 = 100) EXCHANGE RATES IN ADVANCED ECONOMIES* EXCHANGE RATES IN EMERGING MARKET ECONOMIES* 115 120 110 110 105

2020 NON-FOOD PRICES Chart 4 Influence of the ruble (% growth MoM, SA) exchange rate 6 Beginning from May, as the short-term 5 effects of elevated

Exchange Rate of US Dollar Against Ruble*.......................................................................................................... 87 3.2.2. Official Exchange Rate of Euro Against Ruble*.................................................................................................................. 89 3.2.3. Official Exchange Rate:

THEN ADJUSTED DOWNWARDS Chart 9 (02.01.2018 = 100) EXCHANGE RATES IN ADVANCED ECONOMIES* EXCHANGE RATES IN EMERGING MARKET ECONOMIES* 115 120 110 110 105

the Petrol Foreign-made cars lockdown period, and the residual effects of the exchange rate pass-through. Generally weak Source: Rosstat. Consumer price dynamics 4 No. 6

a recovery of supply chains Business expectations and stabilisation of the ruble exchange rate. At 3-month inflation, seasonally adjusted, annualised, % (right-hand scale) the same time,