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Russian rouble may reach 115-120 per US dollar by year-end

Ukrainska Pravda

Ukrainska Pravda

Summary

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The ruble tumbled on Wednesday to its lowest level in over two years, as a mix of low oil prices, new sanctions against Russian businesses and burgeoning government spending on its war effort put ever-greater strain on the Russian economy.
Politico
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The currency fell beyond 110 to the US dollar on Wednesday for the first time since March 16, 2022, the Russian state news agency RIA Novosti reported.
Aljazeera
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The latest drop came just days after the US introduced sanctions against Gazprombank, Russia’s third-largest bank, which played a key role in processing payments for the remaining Russian natural gas exports to Europe.
Guardian
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The US sanctions package also targeted over 50 other Russian banks as well as Russian financial officials as part of a renewed effort to cut the country off from the international financial system to prevent it from paying for the technology and equipment it requires to continue the war in Ukraine.
Novaya Gazeta. Europe

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updated 88:88

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