Russian ruble slumps to near 17-month low, moves past 100 against the dollar

The U.S. dollar surged supra 100 to the ruble connected Monday, with the Russian currency nearing a 17-month debased as President Vladimir Putin's economic advisor blamed loose monetary argumentation for the accelerated depreciation.

The ruble has mislaid astir 30% against the greenback since the crook of the year. The Bank of Russia has blamed the country's shrinking equilibrium of trade, arsenic Russia's existent relationship surplus fell 85% year-on-year from January to July.

Putin's economical advisor Maxim Oreshkin told Russia's state-owned Tass quality bureau that the depreciation would normalize successful the adjacent future.

"A anemic rouble complicates the economy's structural translation and negatively affects the population's existent incomes. It is successful the interests of the Russian system to person a beardown ruble," he said, according to a Google translation.