The Russian rouble fell to its lowest level against the US dollar yesterday since the early weeks of President Putin’s attack on Ukraine, prompting the country’s central bank to hold an emergency meeting.
Russia’s currency slipped below the psychologically important threshold of 100 roubles to the dollar, taking its losses against the greenback to about 25 per cent since Russia’s invasion in February 2022.
The Kremlin blamed Russia’s central bank for engineering the rouble’s fall by mismanaging monetary policy. “The main source of rouble weakening and accelerating inflation is soft monetary policy,” Maxim Oreshkin, an economic adviser to Putin, wrote in an opinion piece for the state-backed TASS news agency. “The central bank has all the tools to normalise the situation in the near
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