According to Jinshi data reports, during the European trading session, the Russian ruble fell sharply, with the exchange rate against the US dollar dropping to its lowest level in more than two weeks. After recent additional sanctions from the US, the ruble is facing immense selling pressure.
Last week, the Russian central bank kept interest rates unchanged, while the market had previously predicted a significant rate hike to curb rising inflation. Jefferies analyst Brad Bechtel stated that it is necessary to observe whether the Russian central bank or Putin will take further measures to stabilize the currency.
