**Russian Ruble Hits Lowest Level Since 2022**
The Russian ruble has lost value quickly over the past few months. It is now at its lowest level since Russia attacked Ukraine in February 2022.
As of November 27, the ruble has fallen by more than 24% against the US dollar since early August. It is currently trading at around 113 rubles per dollar. Other major currencies like the Euro and Japanese Yen are also doing well against the Russian currency.
The latest decline in the ruble’s value is caused by new US sanctions on Gazprombank, a bank that deals with oil and gas transactions. These sanctions make it hard for the bank to use the US financial system, which has limited its ability to make international payments.
There is also higher demand for imports during this time of year, which means Russia needs to buy more foreign currency. This has added to the ruble’s decline in value.
Russia’s leader, Vladimir Putin, said that the rise of the dollar doesn’t affect Russians because they get paid in rubles. However, this ignores how economic changes can impact people’s daily lives.
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