The Russian rouble dropped against the US dollar to its lowest level since the first month of the war in Ukraine.
The Russian rouble has nosedived to an unprecedented low since the initial stage of the Ukrainian war, dealing a significant setback to Putin’s attempts to circumnavigate Western sanctions.
The rouble’s value has tumbled to 95 against the US dollar, marking a continuous depreciation since the year’s inception, when it traded at roughly 65 — a decline of approximately 30pc.
#Russian Rouble hits lowest level since start of #Ukraine war. The rouble has dropped to 95 against the dollar, continuing its consistent fall since the beginning of the year, when it traded at around 65 — a drop of about 30pc.
Today’s value is the lowest point since March 28,… pic.twitter.com/r3druHgpem
— Share_Talk ™ (@Share_Talk) August 4, 2023
The present value marks the nadir since March 28, 2022, as reported by the state news agency, Tass.
Following Russia’s military incursion into Ukraine in late February 2022, the rouble experienced a steep fall, reaching a low of around 120 against the dollar.
Although the Russian Central Bank intervened with supportive measures, allowing for some recovery, the rouble has remained vulnerable this year. This comes as Moscow grapples with Western sanctions that have been placing significant pressure on its economy.
