Ruble Sinks Back to 100 Versus Dollar in New Headache for Russia
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The ruble depreciated near 100 per dollar again, briefly crossing an important psychological mark for Russian consumers and the government after past efforts by policymakers failed to arrest the currency’s decline.
Russia’s currency weakened as much as 0.5% to 100.255 against the greenback, before trading at 99.94 as of 7:22 a.m. in Moscow on Tuesday. The drop returned it to a threshold that triggered an emergency interest-rate hike in August and prompted fierce discussion about possible capital control measures to bolster the ruble.