It marks the first time the Russian ruble has fallen below the threshold since it recovered from an all time low just after Moscow launched its invasion of Ukraine.
Russia’s ruble slipped past 100 per U.S. dollar on Monday morning, a nearly 17-month low that has sparked internal discord over monetary policy as economic pressures from its ongoing war in Ukraine mount and international sanctions erode Moscow’s income streams.The ruble traded at nearly 101 to the U.S. dollar on Monday morning, the first time it has fallen below the symbolic threshold since March last year.
The slump, part of an accelerating downward trend in recent weeks, is a long way from the ruble’s record low in March 2022—it hit around 120 against the dollar shortly after Moscow launched its invasion—but almost half its value in June 2022, when itIt marks a loss of around 25% of the ruble’s value against the greenback since the start of this year and before the invasion the currencyThe latest decline positions the ruble alongside Turkey’s lira and Argentina’s peso as one of the three worst...
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