The Ruble of Russia Tanked 41%, Hitting a New Low of 117 per US Dollar

The Ruble of Russia tanked 41%, Hitting a New Low of 117 Per US Dollar.

On Monday, the Russian ruble hit a new low against the dollar, as the West intensified its drive to punish and isolate Moscow for its takeover of Ukraine.

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Russian President Vladimir Putin put the nuclear armed forces on full alert Sunday, the fourth day of the greatest attack on a European country since World War II.

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Global investors flocked to safer currencies like the US dollar and the yen.

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In recent days, the United States, the European Union, the United Kingdom, Japan, Canada, and Australia have issued a slew of sanctions against Russia.

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Some banks have been barred from using the international SWIFT payment system, the Russian central bank has been barred from utilising its foreign exchange reserves.

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In a swift of new sanctions, Russian flights have been restricted from flying over European territory.

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