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 battle 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 limit the availability of rubles and will help the alternate price accordingly.
The ruble has depreciated 18.2% because the starting of the month.
Replace, 12noon CT 11/28/2024:
Ruble at 108 to the greenback now.
