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

By EMMA BURROWS
Associated Press

LONDON (AP) — The Russian ruble has reached its lowest value since the early weeks of the war in Ukraine as Moscow increases military spending and Western sanctions weigh on its energy exports. 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 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.”