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Herman Gref, Sberbank's CEO said the Russian currency should be trading at 80 to 85 rubles to the US dollar. It's now at 96.5 to the dollar.
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.
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.
The decline to 95 rubles against the dollar continued the Russian currency's consistent fall since the beginning of the year, when it traded at around 65 — a drop of about 30%. After Russia sent troops into Ukraine in late February 2022, the ruble plunged to as low as about 120 against the dollar, but recovered quickly as the Russian Central Bank undertook support measures.
The Federation Council, the upper house of the Russian parliament, has adopted a bill on Wednesday on the introduction of a digital ruble in Russia — the third form of the national currency.