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Currency: The ruble at its lowest level on Wednesday

06/04/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Weakened by the fall in revenues from Russian exports, capital outflows and the reorientation of part of the Russian economy to other currencies, especially the yuan, the ruble has fallen to its lowest level in nearly a year against dollar.

Yesterday, the Russian currency crumbled to 80.50 rubles per dollar, the first time since mid-April 2022. According to the International Energy Agency (IEA), Russia earned $11.6 billion from its exports of petroleum and petroleum products in February, 19% less than a month earlier and 42% compared to the same period last year.

The greenback gained 0.43% on the single currency, at 1,0904 dollars, around 19:30 GMT, and 0.33% against the British currency, at 1.2457 dollars per pound.

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