Ruble Drops To Prewar Value Against Dollar

The ruble fell against the U.S. dollar in trading on April 6 to the value it held just before Russia's invasion of Ukraine more than a year ago. The rate of 81.375 to the dollar at the end of the day continued a steady decline that began in mid-January. It reflected concerns about Russia's long-term economic prospects amid international sanctions, a European Union ban on seaborne oil exports, and the departure of Western companies from Russia. The ruble lost about half its value in the early days of the Ukraine conflict but recovered after Russia enacted capital controls.