If they don’t save it, I’m sure they’ll take a tumble as well.
It’s been worse. What did they do back in March 2022 to make it gain value? https://www.xe.com/currencycharts/?from=RUB&to=USD&view=5Y
They pulled a bunch of emergency levers then to stabilize the ruble (and the economy as a whole). Thing is, emergency levers are emergency levers. You can’t just keep pulling them. It’s been predicted for a while that Russia would not be able to prop up its economy forever.
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As Moscow increases military spending and Western sanctions weigh on its energy exports, the currency dropped below the psychologically important level of 100 to the US dollar.
there are many currencies that go well below 100 per dollar; i wonder why this is a marker of any kind.
It’s purely psychological and only of note to those that regularly convert between the ruble and USD. That doesn’t mean it isn’t unimportant though - many Russians may now change their behavior (like buying foreign currency ASAP, which can further weaken their currency).
