On December 18, the Central Bank of Russia set the official exchange rate for the Chinese yuan at 14.07 rubles. This marks a significant development as the bank also lowered the official dollar rate below 103 rubles for the first time since December 12.
Last month, the ruble reached new lows against three major currencies— the dollar, euro, and yuan. The peak of the ruble's depreciation occurred on November 29, when the exchange rate was recorded at 109.58 rubles to the dollar and 116.14 rubles to the euro.