Russia-Ukraine War: Russia’s ruble plunges to new record low against US dollar

Russia-Ukraine War: Russia's ruble plunges to new record low against US dollar

Moscow (Russia): Amid Russia’s ongoing military operations in Ukraine, Russian Ruble hit record low against the US dollar, as talk grows over possible sanctions against Russian energy.

At present, one US dollar is currently trading at around 155 rubles, CNN reported.

Before the conflict with Ukraine began, it would normally trade between 70 to 80 rubles to the dollar. 

This comes amid tough economic sanctions and the Russian government introduced capital controls to try and stop the flow of money out of Russia. 

Russian forces launched military operations in Ukraine on February 24, three days after Moscow recognized Ukraine’s breakaway regions, Donetsk and Luhansk as independent republics followed by the announcement of a “special military operation” to “demilitarize” and “denazify” Ukraine.

first published:March 8, 2022, 12:17 a.m.

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