Ruble sinks back to 100 versus dollar in new headache for Russia
The Russian ruble has depreciated to nearly 100 per dollar, a significant milestone for both consumers and the government. Efforts by policymakers to stabilize the currency have been unsuccessful, leading to discussions about implementing capital control measures. The central bank has raised interest rates in the past to support the ruble, but Bank of Russia Governor Elvira Nabiullina has warned against using administrative measures.
Ruble Sinks Back to 100 Versus Dollar in New Headache for Russia
The ruble depreciated near 100 per dollar again, briefly crossing an important psychological mark for Russian consumers and the government after past efforts by policymakers failed to arrest the currency’s decline.
Russian Ruble Weakens Past 100 To The Dollar
The Russian ruble weakened past the symbolic threshold of 100 to the dollar before recovering slightly in early trade on October 3, weighed down by foreign-currency outflows and the country's shrinking current-account surplus.
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