Ruble fell to more than 100 against USD

The Russian ruble fell to more than 100 against the dollar on Monday after an economic adviser to President Vladimir Putin said that Russia was interested in strengthening the ruble and that monetary easing was the main reason behind the local currency’s depreciation.

The ruble fell to 100.4975 against the dollar in early trading.

The Bank of Russia attributed the ruble’s sharp decline this year to the decline in Russia’s trade balance. The ruble has lost about 30 percent of its value against the dollar this year. The country’s current account surplus fell 85 percent year-on-year in the January-July period.