Author Topic: Ruble Crashing Against Dollar  (Read 329 times)

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Offline Femacamper

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Ruble Crashing Against Dollar
« on: April 11, 2018, 10:28:40 pm »

The freefall began last week after latest round of sanctions against oligarchs was announced.

This morning, the Russian ruble fell to a two-year low against the U.S. dollar amid concerns war could erupt between the two countries.

The freefall began last week after the U.S. Treasury Department announced a new round of sanctions targeting Russian oligarchs closely related to President Vladimir Putin. This morning, it opened 11 percent lower than its price just last week.

But growing fears the U.S. will soon launch military strikes against Russian ally Syria have driven the ruble even lower—and some analysts are suggesting it could crash further. This could be the Russian denomination’s worst week against the dollar since 1999.

But, analysts are suggesting the move is beneficial to Russia, which will be selling its oil in dollars. With the price of oil going up amid Mid East tensions, the price in dollars goes up, which means even more rubles for the very oligarchs targeted last week by the U.S.

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