The Russian currency has fallen below 100 roubles to the US dollar - its lowest level for 16 months

   Russian currency slides in value

1. The Russian currency has fallen below 100 roubles to the US dollar - its lowest level for 16 months
2. The rouble has slumped this year, with Russian imports rising faster than exports, and military spending growing
3. Russia launched overnight drone and missile attacks on Ukraine's port city of Odesa - following deadly strikes elsewhere in the south yesterday
4. Ukrainian troops have recaptured 3 sq km (1.2 square miles) near the war-ravaged eastern city of Bakhmut over the last week, says the deputy defence minister
5. And a weapons exhibition gets under way today in Moscow - with the possibility of an appearance from President Vladimir Putin

Russian currency slides in value

ReutersCopyright: Reuters

An electronic board in Moscow showing today's exchange ratesImage caption: An electronic board in Moscow showing today's exchange rates

Russia's currency has fallen below 100 roubles to the US dollar - its lowest level since March 2022.

Its value has slumped steeply so far this year.

It's been facing pressure, with imports rising faster than exports, and military spending growing due to the war in Ukraine.

The currency's value swung violently in the immediate aftermath of Russia's invasion of Ukraine in 2022 - first plummeting, before surging, aided by a steep rise in oil and gas prices.

Russia's central bank has said that a key interest rate increase is possible at its next scheduled meeting. It insisted that it saw no threat to Russia's financial stability.

FULL ARTICLE AT: https://www.bbc.co.uk/news/live/world-europe-66496592