Russia's Ruble Crisis: Economic Strain Amid War
The Russian ruble has experienced a significant decline, with the U.S. dollar nearly reaching 115 rubles on the Forex market, while the euro surpassed 120 rubles. This volatility is attributed to a combination of factors, including reduced foreign currency sales by exporters, falling oil prices, and new U.S. sanctions targeting Russian banks. The Central Bank of Russia has intervened by selling yuan to stabilize the market, but economists remain divided on the ruble's future, with some predicting further decline and others expecting stabilization.