The ruble has experienced a significant decline of over 5% since November 21 due to fresh US sanctions targeting around 50 Russian banks.

These sanctions are aimed at institutions with ties to the global financial system and have worsened the currency's weakness, causing it to fall below 105 per dollar, its lowest point since March 2022.

This move by the US government is a response to ongoing geopolitical tensions and is expected to further strain Russia's foreign-currency inflows.

The ruble's depreciation reflects the increasing challenges faced by the Russian economy as it deals with the impact of international financial restrictions.