The Moscow Exchange, Russia’s largest stock exchange, saw a surge in the trading volume of the Chinese yuan in 2023, surpassing that of the U.S. dollar for the first time, according to Reuters, citing a report by the Kommersant daily on Tuesday. Data from the report reveals that the yuan’s trading volume on the Moscow […]
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 experienced a sharp drop, hitting its lowest level against the dollar in over seven weeks, following Russian President Vladimir Putin’s recent accusations against the United States. Putin, speaking from Sochi, accused the US of attempting to assert its waning global dominance, which further strained international relations. On Thursday, the ruble initially showed […]
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 […]
As the market adjusted to the possibility of weaker export revenues following sanctions on Russian oil, the ruble fell by almost 3% versus the dollar on Tuesday, failing to sustain a recovery from last week’s decline. Following the implementation of an oil embargo and price cap, the ruble lost roughly 8% versus the dollar last […]
On Wednesday, as concerns over sanctions on Russian oil and gas shook the market, the ruble (RUB) fell to its lowest point against the dollar since early May, passing the 70 mark. This brought the month’s losses to roughly 14%. After reaching 70.7550 earlier today, the ruble was down 2.5% versus the dollar as of […]
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 […]
