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News in English (USA) / 27.11.2024 / 20:00

Russian Ruble Faces Historic Decline Amid Economic Pressures and Sanctions

The Russian ruble has plunged to unprecedented lows, trading beyond 110 to the dollar, marking its weakest point since the early days of the Ukraine war. Contributing factors include significant US sanctions impacting foreign exchange resources and a struggling economy. The Russian Central Bank has halted currency purchases until the end of the year as the ruble continues to slide, with projections suggesting it could reach 115-120 rubles per dollar by year-end. The economic turmoil has sparked panic in the produce trade, prompting exporters to halt shipments to Russia due to currency risks and rising inflation. As the conflict and sanctions persist, the Kremlin finds its options narrowing amidst growing financial instability.
Reuters.com, Newsweek, The Guardian, The Moscow Times, Al Jazeera English, Bloomberg, POLITICO Europe, The Wall Street Journal, Financial Times, Ukrainska Pravda