Russian Rouble Hits 16-Month Low Against US Dollar #TLDR #News #Russia #Rouble #Ruble #Inflation

The Russian rouble has hit a 16-month low, with its value falling below 100 roubles to the US dollar, The Financial Times reports.

The currency has depreciated by about 25% this year due to increased military spending, a decline in export revenues, and western sanctions.

Russia’s main exports of oil and gas have fallen in revenue due to embargoes and price caps but showed signs of rebounding in July.

The Russian Central Bank is considering raising its key interest rate to stabilize inflation.

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