Russia's ruble drops to more than a 2-year low against the dollar on fresh sanctions and surging tensions

Markets Insider ^ | 11/25/2024 | Jennifer Sor

[marcusmaximus]

Russia's currency has dropped to its lowest level in more than two years against the dollar in the wake of new sanctions and soaring geopolitical tensions.

Russia's ruble continued to weaken against the dollar on Monday, trading at 104 against the greenback. The currency is now at its weakest level versus the dollar since March 2022, when Russia first began its invasion of Ukraine.

-snip-

The ruble's decline was also fueled by Russia firing a new hypersonic missile in Ukraine on Thursday, a retaliatory measure after Ukraine fired US- and British-made missiles into Russia earlier in the week.

Russia's new missile, which Putin called the "Oreshnik," is adding to geopolitical fears abroad, with the missile possibly being used to signal a nuclear threat, military researchers said.

The ruble-dollar exchange rate has fallen 14% this year, thanks partly to Russia's long list of economic concerns.

[Allegra]

[FreedomNotSafety]

Stayed at the Ritz Carlton on Red Square for $149/nt the last time it dropped so low. That was as in far better times.

[kiryandil]

das Serge

[Who is John Galt?]

[kiryandil]

In other news:

"The Putin Suffers Public Bout of Shaking Leg Death Syndrome; Vlad Humiliated!"

[Dilbert San Diego]

Remember when Joe Biden said the ruble was rubble? I wonder who wrote that line for him?

[Vermont Lt]

It only really matters if you are buying imports. And you really can’t buy many imports. So….everything is “great” inside the country.

[Alas Babylon!]

Rosie O'Donnell, as Bettie

[Kudsman]

Betty was a man?? I’ll be!

[teeman8r]

falling like a BRIC.

[marcusmaximus]

Funny how the Putin groupies are suddenly calling for Re-Dollarization now that the ruble is crashing and collapsing.

[Apparatchik]

[Kazan]

Dollar to ruble ratio is nearly the same today as it was 15 months ago. And, the Russian economy has been booming in the last 15 months.

[aMorePerfectUnion]

ZEEPER FOLLIES PINGLIST!

(((PING!)))

[doorgunner69]

Soros kept spammer again?

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

[Vermont Lt]

You guys all say the same thing. It has me wondering if you are all just one person continually logging in and out of different user names while ripping the teletypes from the Kremlin.

[bimboeruption]

[ANKE69]

[ANKE69]