Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, November 28, 2024
[ 03:00 AM ] - United States, Thomas Matters
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[ 02:21 AM ] - United States, Thomas Matters
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Wed, November 27, 2024
[ 11:40 PM ] - United States, Thomas Matters
[ 11:21 PM ] - United States, Thomas Matters
[ 11:21 PM ] - United States, Thomas Matters
[ 11:20 PM ] - United States, Thomas Matters
[ 11:20 PM ] - United States, Thomas Matters
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Russian Central Bank Intervenes as Rouble Tumbles Past 0 to the Dollar
- MOSCOW (Reuters) -Russia's central bank said on Wednesday it would stop foreign currency purchases in order to ease pressure on the financial markets after the rouble weakened beyond 110 to the U.S. dollar, down by one-third since early August.
The Russian rouble has experienced a significant depreciation, falling by approximately 25% since early August 2024. This decline is attributed to a combination of factors including Western sanctions, a drop in oil prices, and capital outflows. The weakening currency has led to increased inflation pressures within Russia, prompting the central bank to consider further monetary policy tightening. Analysts suggest that the rouble's value might stabilize if oil prices recover or if the government implements more stringent capital controls. However, the ongoing geopolitical tensions and economic sanctions continue to pose challenges for Russia's economic stability.
Read the Full U.S. News & World Report Article at [ https://money.usnews.com/investing/news/articles/2024-11-27/russian-rouble-down-by-one-quarter-since-early-august ]
Read the Full U.S. News & World Report Article at [ https://money.usnews.com/investing/news/articles/2024-11-27/russian-rouble-down-by-one-quarter-since-early-august ]
