February 28, 2022
Russia’s currency nosedived on Monday, losing as much as 30% of its value against the US dollar after fresh allied sanctions targeted Russia’s central bank and key lenders. The ruble has suffered double-digit losses in a single day only twice before. Once during the 1998 Russian financial crisis, and again in late 2014 as a result of collapsing oil prices and Western sanctions over Russia’s annexation of Crimea. Here’s a look at how the ruble has fared over the past quarter-century.
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