Ruble's Decline Sparks Economic Concerns Amidst Kremlin Assurances

Russian President Vladimir Putin assured that the ruble's exchange rate is under control despite its recent sharp decline, attributing fluctuations to factors like budgetary payments and oil prices. He emphasized that there is no reason for panic and that the Central Bank has tools to manage inflation without raising interest rates. The ruble's value against the dollar and euro has dropped significantly, with the Central Bank setting the official rate at 108 rubles, a level not seen since March 2022.