The Russian Ministry of Finance announced that the budget deficit in the Russian Federation reached 2.4 trillion Russian rubles ($ 28.93 billion) in the first quarter, with Moscow continuing its huge spending and declining energy revenues.
In recent dealings, the Russian ruble fell, to its lowest level against the dollar and the euro since April 2022, crossing the barrier of 90 rubles against the euro, amid a foreign currency crisis and the sale of Western companies in Russia.
The ruble fell 1.1% against the dollar, to 82.28, and fell 1% to 90.06 against the euro.
According to dealers, the ruble is under pressure due to a set of problems, including the sale of Western assets to local investors; This led to an increase in the demand for dollars.
The ruble recorded the third worst performance of a currency around the world since the beginning of the year, which also showed that the ruble witnessed the worst weekly performance so far against the dollar since July 2022.
Okaz (Moscow) @Okaz_online