The Russian ruble passed the mark of 100 rubles for one US dollar on its week-long slide. On the Moscow stock exchange, a dollar costs 101.16 rubles in the morning, according to the state news agency Tass. The euro is trading at 110.3 rubles. According to the information, the Russian currency was last this weak at the end of March 2022. An economic advisor to President Vladimir Putin, Maxim Oreshkin, blames the central bank’s loose monetary and credit policy for the crash. The increase in consumer credit is a particular concern, writes the former economy minister in an article for TASS. However, the central bank has all the means “to normalize the situation in the near future”.
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