Russian Media Warns: Ruble Faces Sharp Decline Again

During trading at the Moscow Stock Exchange, the ruble has begun to experience a sharp decline against the dollar and euro. Since the beginning of the day, the Russian currency has depreciated by nearly ten percent, Russian media reports.

As of 1:15 PM, the dollar is being sold for 60 rubles, while the euro is selling for 61.3 rubles. The Moscow Exchange index has decreased by 0.13%, and the RTS index has dropped by 7.2%.

Lenta.ru points out that the weakening of the Russian currency occurs in the context of a statement by Russia's Finance Minister Anton Siluanov regarding the readiness for currency interventions to counteract a dangerous trajectory for the budget.

Maxim Reshetnikov, head of the Ministry of Economic Development, confirmed that the government is addressing the issue of the ruble's devaluation daily. He also indicated that with such parameters, Russia is threatened by a deflationary spiral, potentially leading to a reduction in production volumes.