Ruble is the official currency of Russia and is traded on the Moscow Stock Exchange. The Russian Ruble has been around since the 16th century and is currently the world's 13th most traded currency. It is also one of the most volatile currencies due to its lack of liquidity and political volatility. The Ruble is made up of 100 kopecks and is represented by the symbol "RUB". The Ruble is used to purchase goods and services in Russia and is also used as a reserve currency in some countries. In recent years, the Ruble has seen a great deal of volatility due to political and economic events in Russia. The currency has been subject to sanctions and devaluations and is currently worth less than half of its pre-crisis value.
(Bloomberg) -- President Vladimir Putin demanded steps to control the outflow of capital from Russia and to reduce volatility in financial markets, warning of the threat from rising prices following the slump in the ruble.Most Read from BloombergMusk Told Pentagon He Spoke to Putin Directly, New Yorker SaysGoldman Is Cracking Down on Employees That Aren't in Office Five Days a WeekBorrowers With $39 Billion in Student Loans Finally See ReliefStocks Fail to Catch a Bid Before Nvidia’s Results: Ma
Central bank digital currencies (CBDCs) and blockchain technology are likely to displace traditional banks, according to a Russian lawmaker.Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin (BTC), has predicted that the traditional banking system will “fade away” with the adoption of the digital ruble, local news agency RIA reported.“As
Russia’s central bank will offload 150 billion rubles ($1.5 billion) of foreign exchange in the domestic market, in what it said is a temporary acceleration of previously planned sales that should take some pressure off the ruble after one of the biggest depreciations among emerging economies.