The currency weakened as far as 102 to the dollar, adding to concerns of inflation and prompting the Russian Central Bank to move quickly to consider raising rates.
Tag: Central Bank of Russia
Russia Tries to Bolster Ruble as Inflation Adds to Economic Woes
The central bank in Moscow took steps to counter the currency’s slide, but the war and resulting sanctions have put intense pressure on the economy.
The ruble’s fall is raising concerns inside Russia about rising inflation.
The Russian currency has lost about a quarter of its value against the dollar this year, a reflection of the country’s roiling economy.
Russia Downs 2 Drones Near Moscow, as Ukraine War’s New Phase Intensifies
It was the 12th time in the past three weeks that Russian officials had reported intercepting such aerial attacks in the heart of the capital.
Europe Vowed to Make Russia Pay for the War. It’s Not That Easy.
Confiscating Russian state assets frozen by the United States and Europe could breach international law and set a dangerous precedent, experts say.
Russia Central Banks Keeps It’s Key Interest Rate Steady Amid Inflation
The country’s central bank said inflation, at 12 percent, risked rising because of a growing budget deficit.
Biden Calls on World to Punish Russia for Attempt to Annex Ukrainian Land
The U.S. imposed new sanctions on Russian officials and companies, and penalized foreign businesses aiding the Russian military. But officials are holding back on energy sanctions.
Russia Opens Rebranded McDonald’s Restaurants, Without the Golden Arches
The reopening of the fast-food stores under Russian ownership (and with a new logo) illustrates the economy’s surprising resilience in the face of intense sanctions, though tough times lie ahead.
Seizing Russian Assets to Help Ukraine Sets Off White House Debate
Some European officials want to use more than $300 billion in Russian central bank assets to rebuild Ukraine. But Biden administration officials warn that diverting those funds could be illegal.