Russian Ruble Worth Less Than 1 Cent As Russia-Ukraine Tensions Continue And Sanctions Pile Up

Russia’s currency the ruble is now worth less than 1 cent after its invading forces escalated their bombing of Ukrainian cities, and the US and its allies stepped up moves to hamstring the country’s trade and financial capacities.

Western nations and international investors have been quick to dump Russian investments. A strategist also said a significant discount for Russian assets will persist even if hostilities cease.

Financial markets have been hit by the impact of Russia’s armed conflict with Ukraine, but Russian assets have undoubtedly been the most severely affected.