Russia's Ruble Crisis Deepens Amid Economic Strain

Russia's ruble remains weak, valued at less than a penny, despite the central bank's halt on foreign currency purchases. The ruble has fallen 20% against the dollar this year, exacerbated by U.S. sanctions on Russian banks. While this could make exports cheaper, it risks increasing inflation due to more expensive imports. Russia's sovereign wealth fund, used to support the ruble, has dwindled from $140 billion to $55 billion since the Ukraine invasion, leaving the economy vulnerable to energy price fluctuations. The central bank maintains high interest rates, but further hikes could strain the economy.