The rise in the ruble came after attempts by… Central Bank of Russiathe government, and the president Vladimir Putin To calm foreign exchange market turmoil caused by the latest round of US sanctions.
Price movements
By 16:15 GMT, the ruble rose 1.9 percent to 106.00 against the dollar, after briefly recovering to 104.50 during the session.
The Russian currency reached its weakest levels since March 2022, about a full month after the outbreak of the Russian-Ukrainian war.
And it was imposed US Last week, sanctions were imposed on a bank Gazproma major lender that handles payments for Russian energy exports to Europe It is the main supplier of foreign currency to the local market.
Since then, the ruble has fallen about 15 percent against the dollar.
“We assume that as soon as market tension subsides, the exchange rate will return to its basic values,” Economy Minister Maxim Reshetnikov said, noting that banks and foreign exchange flows need to adapt to the new sanctions.
The Central Bank and Putin also tried to limit the damage to the Russian currency by issuing reassuring statements.
