Inflation is hitting the Russian ruble hard, with the dollar-pegged stablecoin Tether witnessing a spike of over 30% against it in the five days since the commencement of the war with Ukraine.
) witnessed a spike of over 30% in five days against the Russian ruble — highlighting the negative and immediate impact of the ongoing war on the traditional financial system.and crypto exchange Binance show that the ruble is undergoing inflation as the USDT/RUB trading pair — for the first time in history — crossed 105 rubles.
Prior to the spike, the USDT/RUB pair maintained a comparatively steady market price below 80 rubles. However, the ruble’s market price against USDT surged on Thursday, momentarily exceeding 90 rubles.banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, messaging system.And it will make it impossible for the Central Bank to liquidate its assets.
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