Russia had become the target of the entire Western world after the ‘operation’ it started within the territory of Ukraine. This step, which Russia took to ‘make Ukraine independent’ after the already strained relations recently, caused the death of thousands of people in just 2 weeks. This war had a very bad effect on the Russian economy and naturally on its people.
While the West did not take concrete military steps to attack Russia, it signed sanctions as if it had sworn to wipe Russia out from the whole world, targeting the Russian economy and people. In a world dominated by the West, Russia has become one of the world’s largest companies in technology, oil, finance, and every conceivable sector. So, how was Russia’s currency, the Russian Ruble, affected by this situation?
The Russian Ruble reached its lowest level in its history against the dollar with the war. The currency, which continues to lose value by breaking records day by day, has a value of $ 0.0079 as of the writing of this article. In other words, 1 Russian Ruble is not even worth 1 cent.
Ruble was hovering around $0.0127 before this decision on February 22, when Russian leader Putin decided to recognize the so-called Donetsk and Luhansk Republic. The value of the currency was at $0.0132 in January 2022. The currency has lost approximately 42.46% since January 1, 2022.
- Ruble/dollar
On the other hand, the decisions of Russian President Vladimir Putin have always included the Ruble. shot. As can be seen in the graphic above, Russia actually entered a period of great economic recovery with Putin’s ascension. But with the occupation of Georgia first and then the sovereignty of the Crimea, the loss of the ruble against the dollar was extremely heavy. Today, the same situation continues to be experienced with the occupation of Ukraine.
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