Ruble Plummets to Record Low Against USD Amid Ukraine Conflict

The Russian ruble hit its lowest value against the United States dollar since the early stages of the war in Ukraine, dropping to 95 rubles per dollar in trading on Friday in Moscow. This marks a consistent decline in the currency's value since the beginning of the year, with a drop of about 30%. The ruble had previously plunged to around 120 against the dollar when Russia sent troops into Ukraine in late February 2022 but quickly recovered due to support measures by the Russian Central Bank.