After ruble's plunge, Russian central bank calls unscheduled meeting to discuss key rate

By Gokhan Ergocun

ISTANBUL (AA) - The Russian central bank, Bank of Russia, announced an “unscheduled key rate meeting” on Tuesday following the ongoing deterioration in the ruble.

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.

The bank said the meeting will discuss the level of the key rate, which is 8.5% currently.