Russia hikes rates as rouble tumbles

Russia’s central bank has raised its key interest rate to 12 percent after the rouble slid past the 100 threshold against the dollar

Left: President Vladimir Putin has repeatedly hailed resilience of Russia’s economy, but strain of war and Western sanctions are  starting to bite

Jun 28 Rallies past 52 to more thanseven-year high, bolsteredby capital controls and surgingoil and gas revenues
Aug 16 Steadies near 97 after central bank intervention
Aug 14 17-monthlow of 102
Mar 7 Rouble plunges to 139 – almost 50% loss invalue since start of hostilities
Feb 24 Russia invades Ukraine

Rouble has lost about 25% of its value against dollar since invasion of Ukraine

Roubles per US$
140
120
100
80
60
40
Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
2022
2023

Sources: BBC, Reuters
Picture: Getty Images
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