The sharp fall of the Russian currency. In large banks in Russia more than 100 rubles for the euro

The ruble has been the cheapest for more than a year and continues to depreciate. In Russia, you can buy more than 100 rubles for one franc or euro. Russian currency “becomes Monopoly money”.

The Russian currency has been depreciating continuously for months. On Wednesday, July 5, one ruble costs only $0,011. Let us recall that at the end of September 2022, the ruble had to be paid about $0,020, and before Russia's invasion of Ukraine, more than $0,028 was paid. At the moment, one franc can buy 101 rubles, one euro can buy 98 rubles (at the branches of Sberbank in Moscow, the European currency is sold for 102.5 rubles, writes The Moscow Times), and one dollar – 90 rubles. The Russian currency is also the weakest in over a year against the Chinese yuan, for which you can buy about 12.5 rubles.

“The Ruble Becomes Monopoly Money”

Most likely the Russian central bank was forced, directly or indirectly, to buy up rubles in order to reduce their supply, hoping that the value of the ruble would not exceed 90 rubles for 1 dollar.

Earlier this week, Vladimir Putin claimed that the economy was “doing better than expected,” Reuters reported. The Kremlin predicts that Russia's GDP in 2023 will increase by 2 percent, and inflation will not exceed 5 percent per year. Meanwhile, according to the International Monetary Fund, the Russian economy can count on growth of 0.7 percent this year.
 
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US President Joe Biden: Vladimir Putin is losing

We are only about a week after Wagner's rally on Moscow, Russia has clear internal problems, the ruble is collapsing, the budget is in a record deficit, there is no trace of mobilization. Last week, US President Joe Biden assessed that Vladimir Putin had become a pariah and was losing the war in Ukraine (he did, however, fail and talk about Iraq).