Russian Ruble Is Rapidly Falling

A new all-time low was recorded.

The Russian ruble is increasingly falling. The all-time low has been recorded for the first time since the end of March 2022.

The Moscow Exchange provides the rates.

As of July 5, the euro has already risen above 99 Russian rubles - for the first time since March 29, 2022, and the dollar approached 91 Russian rubles

The exchange rate of the ruble began to cause concern in Russia in mid-June of this year when the trend became noticeable and the euro and the dollar were strengthening significantly.

But on June 24, the day when Yevgeny Prigozhin, the head of the Wagner PMC, announced the march on Moscow, Russian banks further sharply increased exchange rates: in most cases, the value of the dollar exceeded 90 Russian rubles, and the euro - 100 Russian rubles.

Statements about the possible coup in Russia also hit the shares of the largest Russian companies.

The Russian ruble resumed its fall a few days later, renewing the lows of more than a year.

The situation looked worse only in late February - early March 2022, when the Russian Central Bank suspended trading on all markets of the Moscow Exchange and the ruble exchange rate collapsed against the dollar and the euro to record figures, reaching 170 rubles and more.