Russian ruble slides to 16-month low against U.S. dollar as capital flight, shrinking trade surplus bite

The Russian ruble plunged to its lowest level against the U.S. dollar in more than 16 months on Monday, as blowback related to President Vladimir Putin’s bloody invasion of Ukraine continued to weigh on the currency. The U.S. dollar USDRUB, surged to 101.74 rubles on Monday, according to FactSet data. That’s the weakest level for the Russian currency since March 28, 2022. Since the start of the year, the dollar has gained more than 38% against the ruble, making the ruble one of the worst performing major emerging-market currencies of...