Russia's internal turmoil impacts global markets.

1 min read
Source: Markets Insider
Russia's internal turmoil impacts global markets.
Photo: Markets Insider
TL;DR Summary

The Russian ruble fell as much as 3% against the dollar, hitting its lowest level in 15 months, following the Wagner Group's march on Moscow this weekend. The mutiny caused Russian demand for foreign currencies to jump to 70%-80% in some regions. During the crisis, Russian banks cut their ruble exchange rates to over 100 per dollar, and the ruble was also exchanged for tether, a dollar-pegged cryptocurrency. While the crisis has de-escalated, doubts about President Vladimir Putin's regime's ability to face down a similar revolt in the future are growing.

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