Russians are lining up at cash machines around the country to withdraw foreign currency as new sanctions to punish the Kremlin for its invasion of Ukraine sparked fear the ruble could collapse.
The rush for foreign currency came despite some lenders selling dollars at more than a third higher than the market’s close on Friday, and well past the psychologically important level of 100 rubles per dollar that many economists said would trigger an interest-rate hike by the Bank of Russia.
The shock came as Russians were still digesting news that Europe was closing its airspace to them and popular payment systems like ApplePay would stop working, Bloomberg news reported.
Bloomberg
Follow us on:
https://cdn.veri.app/13646108-d5ec-478b-a54c-b01f60dbca29.mp4 President Bola Ahmed Tinubu On Thursday directed Vice President, Kashim Shettima to lead Nigeria’s…
The United Sates (US) Vice President Kamala Harris has expressed her willingness to use her…
Gabriella Uwadiegwu says cultural and societal barriers hinder women's tech careers, citing biases and limited…
Brazil has fined Elon Musk’s companies, X (formerly Twitter) and Starlink, after users in the…
The European Union has pledged to provide Ukraine with a substantial loan of up to…
President of Zimbabwe Dr. E.D. Mnangagwa will not be attending this year’s United Nations General…