Russia’s rouble has slipped to its lowest point in 16 months. As of Monday, the rouble was trading at 100 per $1, a 25% decrease in value since Moscow launched its full-scale invasion of Ukraine in February 2022.
INSIGHTS
- Russia’s economy is entering a new phase. The country is attempting to meet the ever-growing costs of its war in Ukraine, while GDP growth remains stagnant, writes economist Joseph Politano. In many ways, the Russian economy has proven more resilient than expected, but civilians are bearing the brunt of the financial situation. “The costs of the war are growing faster than Russia’s economy, and without changes on the battlefield that will likely require mean squeezing of Russia’s civilian economy,” Politano notes. — Apricitas Economics
- The country is facing something of a “currency famine.” …
