Russian Ruble Falls to Lowest Level Since April 2022

The Russian ruble fell today, Friday, to its lowest levels against the dollar and euro since April 2022, declining 1.1% against the dollar to 82.28 and dropping 1% to 90.06 against the euro. Traders stated that the ruble is under pressure due to a range of issues, including the sale of Western assets to local investors, which has led to increased demand for the dollar, while the decline in oil prices in March has resulted in reduced export revenues. The ruble has recorded the third worst performance of any currency worldwide this year so far, following the Egyptian pound and the Argentine peso, according to Reuters calculations, which also showed that the ruble experienced its worst weekly performance against the dollar since July 2022.