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11 minutes agoSanctions plus SWIFT: Russian ruble Takes Down
Periskopi(4 years ago)
(4 years ago)The Russian national currency fell to the record, as G7 -- or group of more industrialized countries -- imposed severe financial sanctions against Russia due to the unprotested invasion of Ukraine. Rubla fell on Monday to 114 against the US dollar, compared to 83.7 late last week. Rubla has lost about 40 for [...]
The Russian national currency fell to the record, as G7 -- or group of more industrialized countries -- imposed severe financial sanctions against Russia due to the unprotested invasion of Ukraine.
Rubla fell on Monday to 114 against the US dollar, compared to 83.7 late last week.
Rubla has lost about 40 percent of its value since the end of October, when Russia has begun gathering troops at the border with Ukraine.
At the weekend, the G7 has announced it will sanction Russia's Central Bank and exclude some of its largest financial institutions from the global banking system, known as SWIFT.
Sanctions hinder the Central Bank's ability to protect the ruble by selling its reserves to G7 coins.
