The Russian Ruble is Collapsing (Down 34% in 4 Months)
Video Summary
The Russian Ruble has tumbled to a new 12-month low, sparking concerns about the country’s economic stability. The currency has been weakening rapidly against major currencies, driven by increased imports and foreign capital outflows. Analysts say the Russian government’s efforts to stabilize the currency, including restricting foreign asset sales and buying its own currency, have been unsuccessful. The country’s finance ministry has reported a significant budget deficit, and the government is struggling to fund its military efforts in Ukraine. Meanwhile, emigration from Russia has increased, with an estimated 1 million people leaving the country in 2022. The economic crisis is expected to worsen as the country’s foreign reserves dwindle.
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