Russian ruble hits anti-records

By Alimat Aliyeva

The exchange rate of the US dollar on the international Forex market exceeded 108 Russian rubles on November 27, marking a significant rise.

Azernews reports, the USD/RUB pair increased by 3.04%, reaching 108.7025 rubles as of 11:42 Baku time. This marks the first time in nearly three years that the dollar has surpassed the 108 ruble threshold, a level last seen on March 16, 2022.

The dollar/ruble exchange rate on the interbank market also rose by 3.05%, reaching 108.7025. Meanwhile, futures for the dollar (Si) traded on the Moscow Exchange for delivery in December increased by 0.47%, settling at 107.500, which corresponds to an exchange rate of 107.5 rubles per dollar.

The recent rise in the dollar's value against the ruble comes amid ongoing economic challenges and fluctuating market conditions. Analysts suggest that geopolitical tensions, global inflation, and changes in energy prices are among the key factors influencing the ruble's depreciation.