The Russian ruble slumped to its lowest level against the US dollar in more than two-and-a-half years on Wednesday as it reeled from tensions over the conflict in Ukraine.
Fears of a major escalation in the almost three-year offensive have risen in recent weeks, with fresh Western sanctions also putting a strain on the Russian聽currency.
At 1120 GMT the ruble slid past 110 against the dollar for the first time since 16 March 2022, Russia鈥檚 state RIA Novosti agency reported, citing market data.
This is its lowest level in more than 32 months.
The聽currency, seen by many Russians as a bellwether for the country鈥檚 economic health, was trading at around 75-80 to the dollar before the start of the conflict.
Russia鈥檚 finance minister on Tuesday sought to brush off concerns over the聽currency鈥檚 sharp drop, saying it would be 鈥榲ery conducive to exports鈥�.
A weaker聽currency聽means Moscow鈥檚 goods appear cheaper on the world market.
But it also means Russians have to pay more for imports, threatening to push up already high inflation at home.
The central bank has raised rates to 21 per cent, their highest in more than two decades, to try to bring price rises under control.
