Guno צְבִי
We fight, We win, Am Yisrael Chai
Russia’s ruble has tumbled.
Russia is selling less abroad — mainly reflected in falling revenue from oil and natural gas — and it’s importing more. People or companies importing goods to Russia means selling rubles for foreign currency like dollars or euros. That lowers the ruble’s exchange rate.
Russia’s trade surplus — meaning it sells more goods than it buys — has shrunk. Previously, Russia saw a large trade surplus — which typically supports a country’s currency — because of high oil prices and plummeting imports after invading Ukraine.
But oil prices have dipped this year, and it’s more cumbersome for Russia to sell its oil due to Western sanctions, including price caps on crude and oil products like diesel.
https://apnews.com/article/why-is-ruble-falling-ee777eeaf897d42befae052336fc35d5
https://wise.com/us/currency-converter/rub-to-usd-rate?amount=100
Russia is selling less abroad — mainly reflected in falling revenue from oil and natural gas — and it’s importing more. People or companies importing goods to Russia means selling rubles for foreign currency like dollars or euros. That lowers the ruble’s exchange rate.
Russia’s trade surplus — meaning it sells more goods than it buys — has shrunk. Previously, Russia saw a large trade surplus — which typically supports a country’s currency — because of high oil prices and plummeting imports after invading Ukraine.
But oil prices have dipped this year, and it’s more cumbersome for Russia to sell its oil due to Western sanctions, including price caps on crude and oil products like diesel.
https://apnews.com/article/why-is-ruble-falling-ee777eeaf897d42befae052336fc35d5
https://wise.com/us/currency-converter/rub-to-usd-rate?amount=100