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Russian rouble falls to 16-month low against US dollar

The Russian rouble has fallen to its lowest value for 16 months, falling past 100 per US dollar.

The decline comes as pressure grows on the Russian economy, with imports rising faster than exports and military spending growing for the Ukraine war.

Russia has been targeted with sanctions by Western countries following its invasion of Ukraine in February 2022.

The rouble plummeted after war first broke out, but was bolstered by capital controls and oil and gas exports.

It has fluctuated in value since the war, but has lost about a quarter of its value overall against the dollar since Ukraine was invaded.

Earlier on Monday, the rouble was 101.04 per US dollar. The more roubles per dollar means the currency is weakening, as it will take more of it to buy one US dollar, which is typically seen as the most powerful currency in the world.


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