By## Russian Rubles to US Dollars Exchange Rate Plummets Amidst Sanctions
The collapse of the ruble is primarily attributed to the following factors:
On March 10th, 2022, the ruble reached a historic low of 142.50 against the US dollar, a drop of over 30% from its pre-invasion rate. This is the lowest value the ruble has recorded since 1998.
To mitigate the impact of the sanctions, the Russian government has implemented several measures, including:
Experts believe that the ruble is likely to remain volatile in the near term as sanctions continue to weigh heavily on the Russian economy.
"The collapse of the ruble is a significant blow to Russia and will make it difficult for the government to finance the war effort," said Sergei Guriev, a Russian economist at Sciences Po.
The prolonged weakness of the ruble could have several consequences:
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