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Russia’s ruble hits a 17-month low to the US dollar as the Ukraine war bites
The ruble hit a 17-month low against the dollar Monday, highlighting the growing squeeze on Russia’s economy from Western sanctions and a slump in export revenues. The Russian currency has lost nearly 40% of its value this year, weakening past 100 rubles to the dollar, as Moscow’s war in Ukraine takes a heavy toll. The fall in the ruble’s value is one of several negative indicators for the Russian economy, even as President Vladimir Putin insists that Western sanctions are having a limited effect. The currency collapsed in the immediate aftermath of Russia’s full-scale invasion of Ukraine in February 2022, ... (full story)