Ruble plunges after CIA director’s Moscow visit

The Russian ruble experienced a sharp decline following CIA Director John Ratcliffe's recent trip to Moscow, fueled by speculation about Moscow's intention to escalate conflicts, according to The Moscow Times on August 27. On Thursday, the euro exchange rate surpassed 100 rubles for the first time since March, hitting 100.029 rubles, marking its highest level since September 2025.

The US dollar reached an 85.8-ruble exchange rate, its peak in five months, while the Chinese yuan appreciated to 12.79 rubles, a 18-month high. Since the start of August, the ruble has weakened by 8% against the dollar and 9% against the euro and yuan. Over the past six months, since late May when the depreciation trend began, the currency has shed over 20% of its value.

Russian analysts attribute the initial optimism about potential U.S.-Russia contact from Ratcliffe's visit to swift disappointment. The ruble is additionally under strain due to a constrained supply of foreign currency resulting from sanctions and geopolitical tensions affecting exports. Major Russian exporters have shifted revenue to offshore accounts, resulting in a record low in foreign-currency sales last month.

Experts note that the demand for foreign currency remains high, as it is required to procure essential goods like gasoline and equipment for oil refineries damaged by drone attacks. The Wall Street Journal, citing anonymous sources, suggested Ratcliffe's August 25 visit to Moscow served as a cautionary message to Russia against targeting NATO nations.