Russia’s currency hits the lowest level since beginning of the war in Ukraine

LONDON (AP) — The Russian ruble has reached its lowest value since the early weeks of the war in Ukraine as Western sanctions weigh on energy exports and weaken demand for the national currency. The Russian currency passed 101 rubles to the dollar on Monday, continuing a more than 25% decline in its value since the beginning of the year. President Vladimir Putin’s economic adviser on Monday blamed the weak ruble on “loose monetary policy” in an op-ed for state news agency Tass. He says a strong ruble is in the interests of the Russian economy and that a weak ruble “complicates economic restructuring and negatively affects people’s real incomes.”