Page 103 - Ruble News Today

Russian President Vladimir Putin on Monday banned residents from transferring money abroad as part of measures to prop up the ruble which has plummeted in value as a result of Western sanctions over Russia's invasion of Ukraine.

The ruble dropped to record lows against the dollar, stirring fears of inflation and bank runs, and the central bank raised a key interest rate sharply.

Ordinary Russians are facing the prospect of higher prices as Western sanctions over the invasion of Ukraine sent the ruble plummeting.

Russia's central bank has more than doubled its key interest rate and taken emergency capital control measures to try stem the collapse of its currency.

Central bank doubles interest rates to protect the banking system as the ruble plunges

Ordinary Russians are facing the prospect of higher prices as Western sanctions over the invasion of Ukraine sent the ruble plummeting.

China might help by maintaining some trade with Russia, but if the ruble is almost worthless, that may be unsustainable. All sanctions combined may bring Russia's economy to the brink of collapse.

ING German Chief Economist Carsten Brzeski tells DW the current devaluation of the ruble could soon see Russians facing massive inflation.

Russias central bank raises key rate to 20% from 9.5% in emergency move

Russias central bank raises key rate to 20% from 9.5% in emergency move