One Russian newspaper reported that 'the break has snapped on the ruble.'
Russian newspapers responded with a mixture of shock and outrage on Thursday after the value of the ruble fell below 114 to the dollar on Wednesday, its worst performance since March 2022.The Rossiyskaya Gazeta, a government-run paper, went with the headline 'Panic Attack for Russia's Currency Market' while Moscow daily Moskovsky Komsomolets reported: 'The break has snapped on the ruble.
'It said: 'This is not only a substantial but also a spectacularly fast worsening of the ruble's situation that becomes a statistically important inflationary factor with negative consequences for the domestic market.' However, the paper also noted that Russian finance minister Anton Siluanov was looking on the positive side, having argued the weakened ruble could boost the country's exports.
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