Russian Ruble Plummets Amid Ongoing Tensions with Ukraine

The Russian ruble continued to decline in value amid ongoing tensions between Russia and Ukraine. The euro exchange rate in Russia exceeded 100 rubles for the first time since March, while the dollar reached a five-month high of 85.8 rubles.

The ruble's weakness is attributed to several factors, including problems with foreign currency inflows into the country due to sanctions that limit Moscow's ability to sell its goods on foreign markets and receive foreign currency proceeds.

Russia's military spending and general uncertainty surrounding its economy are also contributing to the pressure on the Russian currency. The situation is further complicated by CIA Director John Ratcliffe's visit to Moscow, which has added to market jitters.