Reported about 17 hours ago
In an attempt to combat skyrocketing inflation and a plummeting ruble, Russia's central bank has ceased all foreign currency purchases for the year and began selling Chinese yuan. The ruble has dropped to record lows, exacerbated by Western sanctions that hinder foreign investments. Inflation rates have surged, with consumer prices rising sharply, prompting the central bank to raise interest rates to a 20-year high of 21%. Despite these measures, experts believe the situation may be dire with actual inflation potentially higher than reported.
Source: YAHOO