Newsweek on Nostr: What Does Ruble's Sharp Fall Mean for Russia's Economy? ========== The Russian ruble ...
What Does Ruble's Sharp Fall Mean for Russia's Economy?
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The Russian ruble has sharply fallen against the U.S. dollar, reaching a 32-month low near 115 rubles/$1; this decline is attributed to new U.S. sanctions on Russian banks, particularly Gazprombank, and low oil prices; since the Ukraine invasion in February 2022, Russia's economy has struggled under heavy sanctions; experts predict higher inflation and a potential increase in interest rates; the ruble's depreciation reflects a deteriorating economic outlook and could undermine public confidence in Putin's leadership; inflation is reported at 8.5% as of October 2024; the ruble has depreciated approximately 23% against the dollar since August 1, 2024; the central bank's policy rate is currently at 21%; the economic situation is exacerbated by increased government spending and a stronger U.S. dollar; the long-term outlook remains uncertain as Russian exporters seek new payment methods.
#Ruble #Russia #Economy #Sanctions #Inflation #Putin #Gazprombank #OilPrices #UsDollar #InterestRates
https://www.newsweek.com/what-does-rubles-sharp-fall-mean-russias-economy-1992933
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The Russian ruble has sharply fallen against the U.S. dollar, reaching a 32-month low near 115 rubles/$1; this decline is attributed to new U.S. sanctions on Russian banks, particularly Gazprombank, and low oil prices; since the Ukraine invasion in February 2022, Russia's economy has struggled under heavy sanctions; experts predict higher inflation and a potential increase in interest rates; the ruble's depreciation reflects a deteriorating economic outlook and could undermine public confidence in Putin's leadership; inflation is reported at 8.5% as of October 2024; the ruble has depreciated approximately 23% against the dollar since August 1, 2024; the central bank's policy rate is currently at 21%; the economic situation is exacerbated by increased government spending and a stronger U.S. dollar; the long-term outlook remains uncertain as Russian exporters seek new payment methods.
#Ruble #Russia #Economy #Sanctions #Inflation #Putin #Gazprombank #OilPrices #UsDollar #InterestRates
https://www.newsweek.com/what-does-rubles-sharp-fall-mean-russias-economy-1992933