Russia's rouble has lost about a third of its value against the US dollar since the start of the year.Russia's rouble has lost about a third of its value against the US dollar since the start of the year.
The rouble fell 4.5% to 106.02 against the dollar in Moscow trade, earlier hitting 110.0, a record low.Against the euro, it shed 2.5%to finish the day at 115.40. Russia has responded to the currency weakness by more than doubling interest rates to 20% and telling companies to convert 80% of their foreign currency revenues on the domestic market as the central bank, or CBR, which is now under Western sanctions,has stopped foreign exchange interventions.
Credit rating agency Moody’s said it was reviewing Russia’s rating for a downgrade, a move that “reflects the negative credit implications for Russia’s credit profile from the additional and more severe sanctions being imposed.” “Russia’s large current account surplus could have accommodated large capital outflows, but with accompanying CBR and SWIFT sanctions, on top of the existing restrictions, it is likely that Russia’s export earnings will be disrupted, and capital outflows will likely be immediate.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
manje manje renge rava gedye gedye neimwe yatoziva sooo
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Moscow threatens to block Russian-language Wikipedia over invasion article - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Russian authorities have threatened to block Wikipedia’s Russian-language site over an article that mentions deaths among Ukrainian civilians as well as the Russian forces that have entered Ukraine, Russian Wikipedia said on Tuesday.
Source: SABCNews - 🏆 37. / 51 Read more »
Home - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.SABC News brings you the latest news from around South Africa and the world, together with multimedia from the SABC's four TV and 18 radio stations. Even colour printer is finished ✅, Covid gone. Hope the expiring vax will be disposed properly Kanti isekhona I covid? Bengithi uPutin uyiqedile. Im a former carpenter I got retrenched in 2020. Im struggling to find employment. My children often cry themselves to sleep because they sleep hungry😭. I don't feel like a man because of that💔. I ask for any food nearing their expiry date🙏🏻
Source: SABCNews - 🏆 37. / 51 Read more »
3 South African Cybersecurity Companies You Should Probably Know About - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsCybersecurity involves the application of technologies, processes and controls to protect systems, networks, programmes, and data from cyber-attacks. Many establishments across the world, including, schools, banks, and hospitals rely heavily on cybersecurity services to protect their data and be safe from cyber-attacks. Everyone who has a computer or access to the internet must at some […]
Source: ITNewsAfrica - 🏆 27. / 59 Read more »