Inflation dropped below four percent in March for the first time since the West slammed Russia with a slew of sanctions over Ukraine, state statistics agency Rosstat said Wednesday.
Inflation in Russia dropped below 4% in March for the first time since Moscow's invasion of Ukraine led Western governments to impose wide-ranging sanctions on the country, state statistics agency Rosstat announced on Wednesday.
The rouble strengthened on Friday, heading towards the 71 mark against the dollar as a highly volatile year drew to a close, with the final month of trading dominated by fears over the impact of a Western oil price cap on Russia's export revenues. At 0708 GMT, the rouble was 1.3% stronger against the dollar at 71.22, recovering some ground from the eight-month low of 72.9175 hit in the previous session.
The rouble soared in its final session of a volatile year on Friday, but remained on course for hefty losses in December, after fears over the impact of a Western oil price cap on Russia's export revenues dominated this month's trading.
The rouble soared in its final session of a volatile year on Friday, but remained on course for hefty losses in December, after fears over the impact of a Western oil price cap on Russia's export revenues dominated this month's trading.