RUSSIAN Ruble Continues Crashing
Video Summary
The Russian ruble has been experiencing a significant decline in value, falling to a record low of 96 against the US dollar in October. This is a concern for Russia, as a weak currency can lead to inflation, decreased purchasing power, and difficulties in repaying debts. The ruble’s value has been affected by the country’s economic struggles, including the impact of sanctions, a shift away from European trading partners, and a decrease in oil and gas revenues. Additionally, China and India, two of Russia’s main trading partners, have been resistent to trade in rubles, leading to a decrease in demand for the currency. The Russian Central Bank has been attempting to support the ruble by increasing interest rates, but this has come at a cost, with inflation rising and borrowing becoming more expensive. The value of the ruble is expected to continue to fall, potentially reaching levels last seen in August 2023. The overall impact of this on the Russian economy is negative, with decreased exports, increased imports, and a liquidity crisis on the horizon. The value of the ruble is an important indicator of Russia’s economic health, and its decline is a cause for concern.
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