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Market Update: Russian Ruble Falls to Near 3-Week Low
The Russian ruble traded $73.1 per USD, the lowest since early June on revived worries about more US sanctions against Moscow and a stronger dollar. During the weekend, US National Security Adviser Jake Sullivan said the US was preparing another package of sanctions over the poisoning of Alexei Navalny. Earlier in the month, the US President Joe Biden and Russia’s Vladimir Putin agreed to begin cybersecurity and arms control talks during its first meeting in Geneva that highlighted their discord on those issues, human rights and Ukraine. On the monetary policy front, the Russian central bank raised interest rates for the third time this year and signaled they would consider more monetary tightening at upcoming meetings. [/s2If]
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