USD/RUB parity exceeds 100 for 1st time since March 2022

ISTANBUL

Russia's ruble depreciated against the US dollar past the 100 mark on Monday for the first time since a previous downward spike in the early days of the Ukraine war.

The USD/RUB exchange rate was at 100.8 on Monday, rising from 97 last week.

The parity was around 75 before the war began in February 2022, after which it hit 134 the following month.

Russia then took several steps to shore up its national currency, including to only accept payment for its energy exports in rubles, which subsequently fell to the level of 57 as of July 2022.

It has since been increasing gradually.