Page 19 - Ruble News Today

Russia’s Central Bank hiked interest rates from 8.5% to 12% on Tuesday in an emergency meeting after the ruble slid past 100 against the U.S. dollar the day before. “The decision is aimed at limiting price stability risks,” the Bank said in a statement.

Russia's central bank on Tuesday increased its benchmark interest rate in an emergency move to try and halt the ruble's recent slide, which...

Currency trades at 101.01 to the greenback.

The extraordinary rate meeting came after the ruble plummeted past the 100 threshold against the dollar on Monday

The Russian currency passed 101 rubles to the dollar on Monday, losing more than a third of its value since the beginning of the year.

MOSCOW: The Russian central bank said it would meet on Tuesday to discuss its key rate, after the ruble slid past 100 against the dollar on Monday, its lowest level in over 16 months.

With the third-largest interest rate increase in a decade to shore up the ruble, Moscow’s policymakers are pursuing the conflicting goals of paying for the war against Ukraine and taming inflation.

It marks the first time the Russian ruble has fallen below the threshold since it recovered from an all time low just after Moscow launched its invasion of Ukraine.

The ruble has shed around 30 percent of its value against the dollar since the beginning of the year, as the country imports more and exports less.

The ruble hit a 17-month low against the dollar Monday, highlighting the growing squeeze on Russia’s economy from Western sanctions and a slump in export revenues.