All articles tagged with #russian ruble
The Russian ruble fell sharply following the EU's announcement of new sanctions targeting Russian banks and energy exports, including measures to disconnect banks from SWIFT and lower the oil price cap, which could significantly impact Russia's oil revenues and lead to further currency weakness amid declining oil prices and seasonal factors.
As the stock market opens on Monday, investors are keeping an eye on the state of the consumer, with retail sales data and earnings reports from major retailers like Walmart, Target, and Home Depot expected this week. FTX founder Sam Bankman-Fried has been sent to jail over alleged witness tampering, while concerns about China's real estate sector and sluggish economic data add to the country's economic worries. The Russian ruble slid past 100 per US dollar, nearing a 17-month low, as the conflict with Ukraine continues.
The Russian ruble hit a 15-month low against the euro and dollar, falling further due to weak exports and ongoing market concerns following Yevgeny Prighzohin's failed mutiny. The Central Bank attributed the ruble's devaluation to the decrease in exports, resulting in less foreign currency entering Russia. The continued devaluation poses potential inflationary risks, which will be considered during the upcoming Central Bank meeting. Capital outflows and Russian companies keeping export proceeds offshore were also identified as factors contributing to the ruble's devaluation.
The Russian ruble has weakened further against the US dollar, falling to around 91 per dollar and surpassing its optimal value range, following the failed mutiny attempt by Wagner mercenaries. The ruble has been one of the worst-performing currencies in 2023, declining 21% since January due to sanctions and economic challenges resulting from Russia's invasion of Ukraine. Retail deposits held in other currencies have increased, and the Kremlin has turned to China's yuan to compensate for falling energy revenues.
The Russian ruble continues to decline, reaching a 15-month low, as the aftermath of the Wagner revolt causes political turmoil in the country. The US is now considering supplying Ukraine with a new long-range missile, the Army Tactical Missile System, to counter Russian aggression. With Russia in disarray, Western officials believe it is an opportune time to provide Ukraine with more advanced weapons, potentially enabling them to strike Russian targets beyond the frontlines.
The Russian ruble has fallen to its lowest level in a year amid speculation that Shell may repatriate over $1 billion of recent earnings. This comes amid a growing liquidity crunch and foreign flight on the back of Western sanctions. Meanwhile, the Chinese yuan has surpassed the US dollar as the most traded currency in Russia.
The Russian ruble has fallen to its lowest level since April 2022 amid speculation that Shell may repatriate $1.2 billion of the currency. This comes amid a growing liquidity crunch and foreign flight on the back of Western sanctions. Meanwhile, the Chinese yuan has recently surpassed the US dollar as the most traded currency in Russia.