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The value of the Russian ruble drops significantly

2023-06-26 09:11:00, Ekonomi CNA

The value of the Russian ruble drops significantly

Russia opened financial markets on Monday, with the ruble trading at a 15-month low against the US dollar.

On Monday morning, the value of the ruble was 2.1 percent lower - 86.5 against the US dollar.

The value of the ruble was lower only in March 2022 - after the start of Russia's war in Ukraine - 87.2.

The ruble is not traded over the weekend, and Monday was the first day the Russian currency was traded following the June 24 developments in Russia.

On that day, Russian mercenaries of the Wagner Group, led by Yevgeny Prigozhin, left Ukraine for Russia and gained control of the southern city of Rostov-on-Don.

Prigozhin has declared that he wants to oust the heads of the defense sector in Russia from power.

While the mercenaries were on their way to Moscow, Prigozhin ordered them to stop the operation.

Belarus has said it has brokered a deal that would see Prigozhin removed to Belarus and Wagner's mercenaries returned to their bases.

The Institute for War Studies, based in Washington, said on Sunday that Wagner's rebellion against the Russian leadership exposed "deep weaknesses" in the Russian security system.





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