Foreign Flight From Russia Helps Push Ruble to Lowest in a Year
- Russian currency has passed 80/$, the lowest since April 2022
- Putin allowed Shell to send money abroad, Kommersant said
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Speculation that Shell Plc may convert and repatriate more than $1 billion of ruble earnings from the sale of a project in the Far East has helped drive the Russian currency to its weakest level in a year.
The possible deal — equivalent to as little as one fifth the daily ruble volumes prior to Russia’s invasion of Ukraine — contributed to pushing the currency past the psychologically important level of 80 per dollar for the first time since April 2022 on Thursday.