The Russian currency sharpened its depreciation and reached its minimum value in more than a yearclosing the day at 100 RUB for each US dollar, and 105.73 RUB for each euro.
The weakening of Moscow’s economy dates back to February 2022, with the start of the war in Ukraine and the subsequent sanctions that the international community imposed on the country, in the form of punishment. Since then, the situation has fluctuated, with some periods of slight improvement driven by internal measuressuch as, for example, the foreign exchange sales obligation to the main exporting companies, which made it possible to stop the fall of the ruble for a few months.
These operations were managed by the Moscow Stock Exchange and the Central Bank of Russia, which were in charge of carrying out currency conversion.
Also, the BCR raised the interest rates up to 21 percentsomething that many economists criticized because they considered that, together with high inflation – 8.5% according to the latest data – could lead to stagnation.
However, these measures were nothing more than temporary solutions since, since August, the world’s oldest currency has exhibited a negative trend.
In the last four months, the ruble has been losing 16% against the dollar and the downward trend intensified two weeks ago, when the triumph of Donald Trump in the United States.
According to Tatiana Orlova, from Oxford Economics, this is because, beyond the Government’s efforts, there is a “continued weakening” of the currencywhose effects cannot be eliminated so easily, to which is added a drop in the price of oil.
At the same time, although Orlova did not consider it as a factor with direct effect, it is worth highlighting that the situation on the battlefield of the Russian Armed Forces is not favorable either, even less so after knowing the use of long-range US missiles on its territory.
After this weekend, US media reported that the US Administration Joe Biden had given the green light to his counterpart, Volodimir Zelenskyfor the use of ATACMS projectiles On Russia, this Tuesday it was learned that the troops had carried out the first of these maneuvers.
According to RBCthe offensive reached a warehouse in the city of Karachev, in the western Bryansk region, where there was enemy ammunition.
The Minister of Foreign Affairs of kyiv, Andriy Sybiga, assured that this type of attacks will allow change the “rules of the game” in war and will make the conflict “shorter.”
Russia recognized the aggression, assured that “there were no victims or significant destruction” in its territory and responded by approving a decree authorizing the use of nuclear weapons against aggression from non-nuclear countries, as long as they have the support of atomic powers. This would be the case of Ukraine and the United States.
“It was necessary to align our principles with the current situation,” said Vladimir Putin’s spokesman, Dmitry Peskov, referring to this measure, considered uA clear warning for NATO and Washington, and a possible trigger for an escalation of the conflict.
(With information from AFP and EFE)
