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USD/RUB Reaches Record High on Sanctions Worries

September 1, 2014 at 15:46 by Vladimir Vyun

A heap of 1,000-ruble billsThe Russian ruble fell to the all-time low against the US dollar today as concerns about sanctions from the United States and the European Union continue to erode the attractiveness of the currency to investors.

The conflict between Ukraine and Russia that has begun in March with annexation of the Crimean Peninsula continues to this day. This led to sanctions from the USA and the EU, the last of which were implemented just recently. It is expected that these measures will hurt Russia’s economic growth, making its assets unattractive.

USD/RUB rose from 37.0663 to 37.3360 as of 15:46 GMT today, reaching the record high of 37.5107 intraday.

If you have any questions, comments, or opinions regarding the Russian Ruble, feel free to post them using the commentary form below.

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