Russian ruble hits 32-month low impacting Chinese exporters

The Russian ruble has fallen to a 32-month low against the U.S. dollar, prompting the Central Bank to stop foreign purchases for the rest of the year. This decline is attributed to new U.S. sanctions and ongoing economic challenges. Chinese exporters are reacting to the weaker ruble by suspending sales on Russian e-commerce platforms. Concerns over losses and increased domestic prices in Russia have led to uncertainty among Chinese businesses, particularly during the sales-heavy month of November. Despite these challenges, some experts believe that Chinese companies may continue to explore the Russian market. They note that Russian consumers still have some purchasing power, and the low debt levels in Russia could support its economy amid sanctions.