The dollar exchange rate at the opening of trading on May 24 fell by 1.26 rubles or 2.17% to 56.6125 rubles, according to the data of the Moscow Exchange. The American currency is trading below 57 rubles for the first time since March 26, 2018.

The euro exchange rate is down 1.51 rubles or 2.5% to 58.59 rubles.

The dollar exchange rate on Mosbirge is declining for the fourth day in a row. The strengthening of the ruble is due to the approaching tax payments on May 25 (MET, VAT, excise duties), which increase the overhang of dollar supply on the currency market, said Egor Zhilnikov, chief analyst of the economic and industry analysis department of Promsvyazbank.