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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.
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.