The Russian rouble slid past 100 against the dollar, its lowest level since March 23, 2022, weeks after Moscow invaded Ukraine.
Since the beginning of the year, the rouble has shed about 30 percent of its value against the dollar as imports rise and exports decrease.
On Monday morning, data from the Moscow Exchange showed the rouble trading at 101.01 to the dollar, while against the euro, it fell to a near 17-month low of 110.73.
Russian President Vladimir Putin’s economic adviser Maxim Oreshkin said in an op-ed for the TASS news agency that the Kremlin wanted a strong rouble and expected a normalisation shortly.
“The main source of rouble weakening and accelerating inflation is soft monetary policy,” Oreshkin wrote.
“A weak rouble complicates the economy’s structural transformation and negatively affects the population’s real incomes,” he said.
