The Russian ruble on August 14 reached its lowest value since the early weeks of the war in Ukraine as Moscow increases military spending and Western sanctions weigh on energy exports. It led Russia's central bank to announce an emergency meeting for August 15 to review its key interest rate, raising the likelihood of an increase in borrowing costs to support the flagging ruble. The Russian currency had passed 101 rubles to the dollar, continuing a more than one-third decline in its value since the beginning of the year and hitting the lowest level in almost 17 months. The ruble recovered slightly after the central bank's announcement. To read the original story by AP, click here.
Russia's Ruble Hits Lowest Level Since Early In War As Central Bank Plans To Step In
People examine currency rates in front of an exchange office in a Moscow shopping mall late last week.