The Russian ruble is tumbling.
ADVERTISEMENT
The Russian ruble is tumbling as inflation picks up
The Russian ruble is weaker on Friday.
ADVERTISEMENT
Recommended articles
The petrocurrency is down by 1% at 58.1678 per dollar as of 8:06 a.m. ET.
Earlier, data showed that Russian PPI rose by 12.7% year-over-year in January, marking the highest inflation since November 2015. It followed the 7.4% increase in December.
Moreover, Brent crude oil prices, which are down by 0.5% at $55.38 per barrel.
ADVERTISEMENT
Although the ruble is down on Friday, the currency has strengthened in February, which has rattled the Ministry of Finance and has even drawn the attention of the Kremlin.
- British pound
- the Office for National Statistics.
- euro
- miss a self-imposed deadline
- US dollar index
- The Baker Hughes rig count will be released at 1 p.m. ET.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Junta led Burkina Faso suspends more foreign media over killings coverage
10 African countries with the strongest merchant marine fleet
Who are Africa's biggest Esports teams?
Top 10 strongest South African brands in 2024
The untapped potential of forex markets
African Hidden Champions Soirée highlights Africa's business leaders with support from AFG, DEG, AfDB, and BII
DalaPay forecasting new trends in African payment systems for 2024
Smart traveler's guide: Securiport experts share advice for mitigating security risks
