The Russian ruble will strengthen when temporary speculative factors and market jitters subside, but the economy will have to adjust to new US sanctions targeting the banking sector, Economy Minister Maxim Resetnikov said today. The Russian currency was flat against all major currencies today, but remained at its lowest level since March 2022, the first month of the war in Ukraine. The ruble has fallen by more than a quarter against the US dollar since early August. “It is clear that adaptation to the new anti-Russian sanctions will be necessary, including changes in banking mechanisms and channels for foreign currency inflows into the Russian market,” Reshetnikov said in a statement. Reshetnikov’s remarks follow President Vladimir Putin’s call for no panic over the fall of the ruble and the central bank’s decision not to buy foreign currencies on the domestic market from November 28 and […]
Source: News Beast
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