The Russian ruble extended its decline today, losing a quarter of its value since August. It now takes more than 113 rubles to purchase one U.S. dollar.
The Russian ruble extended its decline today, losing a quarter of its value since August. It now takes more than 113 rubles to purchase one U.S. dollar.
The rouble fell to its lowest level since late May after Kyiv launched its largest incursion into Russian territory since the war began in 2022.
Vladimir Putin is reportedly considering significant tax increases for Russians as the Moscow government struggles to secure sufficient funds for its military operations in Ukraine.
In 2023, Russia’s federal budget saw a 24% decrease in income from oil and gas, totalling 8.822 trillion roubles ($99.4 billion), as reported by the finance ministry on Thursday.
Putin is taking swift action to stabilize the rouble by implementing restrictions on Western businesses. In a bid to bolster the faltering rouble, Vladimir Putin has intensified the challenges for
Russia has raised its interest rates to 15%, intensifying its efforts to combat inflation amid labour shortages and a depreciating ruble.
The rouble has dropped to its lowest level in over 18 months against the dollar, influenced by the ongoing crisis between Israel and Gaza.
The Russian rouble has declined beyond 101 against the dollar, reaching its lowest point since August due to plummeting oil prices affecting Putin’s administration.
The Russian rouble dipped beyond the notable mark of 100 per dollar, but rebounded slightly during early transactions, as Moscow grapples with a diminishing current account surplus.
The price of oil saw a significant rise following Saudi Arabia’s decision to extend its voluntary oil production cut of 1 million barrels per day until the year’s end, as
Oil prices remain near their 10-month peak, with recent data showing that Saudi Arabian supply reductions have balanced out the increased production from countries like Iran.
Vladimir Putin is scheduled to convene with top financial officials as the Kremlin contemplates mandating companies to purchase roubles using their foreign earnings in an effort to stabilize Russia’s declining