From Politico:
The ruble tumbled on Wednesday to its lowest stage in over two years, as a mixture of low oil costs, new sanctions in opposition to Russian companies and burgeoning authorities spending on its warfare effort put ever-greater pressure on the Russian financial system.
The central financial institution reacted by suspending forex purchases for the remainder of this yr. That can prohibit the availability of rubles and will help 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:
Attention-grabbing image of cumulative change within the value stage, from Rosstat vs Romir.
Supply: Re: Russia (October 2024).
