Ruble sinks to new low ...News

Analysts attribute the depreciation to the drop in foreign exchange earnings from exports and domestic demand The Russian ruble on Wednesday continued its slide against major global currencies, dropping to a new 16-month low. According to MOEX data, the Russian currency was trading above 98 rubles to the US dollar at 11:33 GMT, its weakest level since March 25, 2022. The ruble also weakened against the euro, dropping to nearly 108. Analysts explain the ruble’s depreciation by the drop in foreign exchange earnings from exports which are unable to cover the increasing local demand for foreign currency amid the stabi

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