Russian ruble hits 16-month low as currency takes a beating from Ukraine invasion

• The Russian Ruble is one of the worst-performing currencies of 2023.
• Early trading saw the embattled currency sink to over 100 to the dollar – a level not seen since April 2022 in the early stages of the Ukraine war. 
• Capital flight, low export revenues, and Western sanctions are all biting the currency. 

The Russian ruble fell to its lowest level in 16 months against the dollar on Monday morning as the currency continues to take a beating from its invasion of Ukraine. 

Early trading saw the embattled currency sink to over 100 to the dollar – a level not seen since April 2022 in the early stages of the Ukraine war.