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Russian Ruble's Sharp Fall: Beyond 100 Rubles per Dollar | The Gaze

08.16.2023 20:00

The Russian currency has passed beyond 100 roubles per dollar. Such a jump in the exchange rate on the Moscow Exchange occurred for the first time since March 2022. The reasons for the fall were cheap loans, high federal budget expenditures – primarily for the continuation of full-scale aggression against Ukraine – and low demand for roubles – after all, no one wants to stock up on an unstable currency, which is also highly dependent on political risks. In addition, Russia's main source of foreign exchange is oil and gas exports, which have fallen significantly due to sanctions. So it turns out that there are few dollars and euros in the Russian economy, but a lot of roubles.

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