Russian ruble buckles under trade sanctions, declining export earnings

Abstract: Russia’s currency is losing value, falling 40 percent against the U.S. dollar since December 2022. With measures targeting Russian exports likely to persist, the country’s balance of payments will remain under pressure, leading to continuing currency weakness.

Keywords: energy; trade;

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Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Source: Dallas Fed Economics

Publication Date: 2023-10-10