The Russian rouble has dropped to its lowest level in over 32 months due to geopolitical risks from the Ukraine war and new U.S. sanctions.
Analysts predict the rouble could reach between 115 and 129 to the dollar by the end of 2024, indicating a continued decline.
Market conditions are described as panic-stricken, with investors moving savings from stocks into deposits amid a more than 20 percent fall in the stock market.
While a weak rouble may benefit exports, it increases the cost of imports, potentially exacerbating inflation within the country.
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