(Finance) – The Russian ruble has weakened beyond the symbolic threshold of 100, against the US dollar, while foreign currency outflows and the contraction of the trade balance continue to weigh on the currency.
The last sharp fall in the ruble in August led the Bank of Russia to make an emergency rate increase by 350 basis points to 12%.
The Russian currency recovered slightly during the morning today and settled just above 99.5 against the greenback in early trading.