Prigozhin's mutiny shook the ruble: the dollar in Russia has risen to its highest price in a year
The failed rebellion of the Wagner PMC, led by Yevgeny Prigozhin, brought the Russian ruble to its lowest in 15 months, that is, practically since the beginning of a full-scale Russian war against Ukraine. The exchange rate of the dollar for Russians has thus jumped to its 2023 maximum.
The fall of the Russian currency did not end along with the "abolition of the military coup" in Russia, Bloomberg writes. Thus, on Monday, June 26, the dollar in Russia rose by 3% at once.
As of this morning, the Russian currency was trading at 85.1 rubles/dollar. This is the lowest since March 2022, when it fell to record lows a few weeks after the Russian invasion of Ukraine began.
At the same time, analysts believe that the ruble will fall further, to 90 rubles/dollar. "Continued uncertainty is likely to keep the ruble under pressure," UniCredit AG analysts said.
However, the cash exchange rate has already overcome this mark. Back on Saturday, June 24, Russian banks and exchangers raised the rate to more than 100 rubles per dollar. A day later, after Prigozhin announced the withdrawal of his PMC from Moscow, the value of the dollar dropped slightly.
Overall, the ruble has lost about 13% in value since the beginning of the year. This made the Russian currency one of the worst performers in terms of stability among emerging market currencies in the world.
As OBOZREVATEL reported, the armed rebellion of Yevgeny Prigozhin, the head of the so-called private military company Wagner, which never turned into a full-fledged military coup, nevertheless hit the Kremlin hard. Putin's humiliation and weakness was seen by the whole world, and this, in turn, revealed new threats.