In a bold move to stem the Russian ruble’s free fall, President Vladimir Putin has issued a directive compelling select exporters to trade their foreign currency earnings for the domestic currency. The ruble, which had hit a historic low due to Western sanctions and rising inflation, witnessed a remarkable uptick of over 3% on Thursday, […]
The Russian currency’s (ruble) rollercoaster ride continues as it nears a critical juncture, closing in on 101 per dollar, reminiscent of Monday’s unsettling low of 102.55. This downturn, fueled by heightened demand for foreign currency domestically and falling global oil prices, has sent shockwaves through financial markets. Today’s turbulent ride saw the ruble briefly weaken […]
The Russian ruble grappled with a seesaw of gains and losses on Tuesday as the nation’s central bank executed a surprise maneuver to counter the currency’s freefall. The central bank’s unexpected decision to hike interest rates by a substantial 350 basis points, pushing them to an eye-catching 12%, unfolded as a strategic move to rein […]
In a concerning turn of events, the Russian ruble finds itself in a precarious position, hitting a new 16-month low on Wednesday. The currency’s recent woes can be attributed to a combination of factors, with robust foreign currency demand and a limited supply acting as the primary culprits. These challenges are further compounded by Russia’s […]
In response to new pressure from the West’s price ceiling on Russia’s oil exports, the Russian ruble (RUB) recovered some of its losses after Thursday’s plunge to its lowest level against the US dollar (USD) in more than five months. Russian Ruble Falls Across Board In early morning trading in Moscow today, the ruble dropped […]
