President Vladimir Putin's economic adviser rebuked the central bank on Monday as the rouble slid past 101 per U.S. dollar, blaming loose monetary policy in a sign of growing discord among Russia's monetary authorities.

The rouble has lost around a quarter of its value against the dollar since Putin sent troops into Ukraine in February 2022, as Western sanctions shrink Russia’s balance of trade and military spending soars.

It hit 101.7475 per U.S. dollar on Monday, its weakest point in almost 17 months and 30% down so far this year. Based on the cross rate , the year-to-date fall was 26.2%.

  • mifan@feddit.dk
    3·
    1 year ago

    It baffles me that they didn’t predict this?

    No matter the outcome of the war, Russia have suffered a loss that will take generations to recover from.