The euro surged over 4% against the ruble on Wednesday, breaking the 155 ruble mark and reaching its highest point since late March 2022, a month after Russia's invasion of Ukraine. The dollar jumped 2.5% against the Russian currency, also pushing it to highs unseen since March 2022. The ruble's drop came after the United States imposed sanctions on Russia's third-largest bank Gazprombank and around 100 other entities and individuals. The Russian government is also devaluing the ruble to keep exports competitive, with Finance Minister Anton Siluanov saying on Tuesday the current rate is "very, very conducive to exports."
The euro skyrocketed 4.66% compared to the ruble at 12:13 pm CET and sold for 115.7151, while the dollar gained 2.64% against the ruble, going for 107.4116.
