Russian ruble falls to 8 month low against USD

The Russian ruble is currently depreciating 0.6% against the USD, to 72.6 rubles per dollar.

The Russian ruble touched 72.67 rubles per dollar, the lowest since April 28, 2022.

Compared to other world currencies, the Russian ruble also decreases in value.

The Russian ruble currently trades at 76.93 rubles a euro, down 0.7%.

The ruble also lost 0.6% against the yuan.

Sanctions on oil and gas will limit Russia’s export revenue.

On December 5, 2022, the ban on importing oil by sea and the oil price ceiling imposed by the West on Russia took effect.

Last week, the Russian ruble fell 8% against the US dollar.

Ruble saw huge volatility, partly due to a drop in trading volume ahead of the New Year holiday.

Yangol believes that the outlook for the ruble is still bright, as oil prices are mainly influenced by geopolitical factors.

OPEC+ may continue to reduce oil production, to adjust to the market.

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