Russian ruble hits 15-month low amid Wagner uprising

By Bahattin Gonultas

BERLIN (AA) – Russian ruble plunged to a 15-month low on Monday in the aftermath of the Wagner mercenary group uprising.

On the first trading day of the week, the ruble lost 2.1% to 86.37 per dollar, its lowest level since March 2022.

The dollar/ruble parity settled around 84.75 during Monday trading.

On Friday, Russia’s paramilitary Wagner group accused the Russian forces of attacking its fighters and the group subsequently crossed from Ukraine into the Russian city of Rostov-on-Don.

In response, the Federal Security Service in Russia initiated a criminal case against Wagner for "armed rebellion." Russian President Vladimir Putin called Wagner's uprising an act of "treason."

However, Wagner fighters later decided to turn back when they were 200 kilometers (124 miles) from Moscow.