Russian ruble weakens past symbolic threshold of 100 against the dollar
- The Russian ruble has weakened past the symbolic threshold of 100 to the US dollar due to foreign currency outflows and a shrinking balance of trade.
- The central bank has raised its key rate by an additional percentage point to 13% in response to persistent high inflationary pressure in Russia.
- Ukrainian President Volodymyr Zelenskiy emphasized the importance of cooperation between Ukraine and the EU in the face of possible weakening support within the bloc.
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16 Articles
Russian rouble briefly returns to ‘laughing stock’ level that prompted emergency interest rate hikes last time
The Russian rouble has faced volatility since the Ukraine war kicked off—now there's inflation, shrinking current account surplus and more to worry about.
Ruble Slumps Past 100 vs. Dollar Again as Russia's Economic Woes Mount
Russia's currency briefly fell past 100 against the dollar on Tuesday, continuing to weaken on signs that the country's economy is facing slower growth and higher inflation amid the war in Ukraine.
The slump for the Russian currency reached a point on Tuesday morning, squeezing both Russian consumers and the Russian authorities, who are struggling to stop the fall.
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