From Politico:
The ruble tumbled on Wednesday to its lowest stage in over two years, as a mixture of low oil costs, new sanctions towards Russian companies and burgeoning authorities spending on its conflict effort put ever-greater pressure on the Russian economic system.
The central financial institution reacted by suspending foreign money purchases for the remainder of this 12 months. That can limit the availability of rubles and may assist the alternate charge accordingly.
The ruble has depreciated 18.2% for the reason that starting of the month.
Replace, 12noon CT 11/28/2024:
Ruble at 108 to the greenback now.
Addendum, 6pm CT:
Fascinating image of cumulative change within the value stage, from Rosstat vs Romir.
Supply: Re: Russia (October 2024).
