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The currency is de facto pegged to the United States dollar. The central bank determines each workday whether it is appropriate to devalue the currency against the US dollar. [citation needed] As of 12 October 2024 [10] (Transnistrian ruble per foreign currency unit) US dollar: 16.1000 rubles; Euro: 17.6150 rubles; Russian ruble: 0.1676 rubles
Among the states with limited recognition, Transnistria uses the Transnistrian ruble and Abkhazia uses the Abkhazian apsar. Northern Cyprus does not have its own currency and has adopted the Turkish lira. Similarly, South Ossetia uses the Russian ruble. Therefore, 27 currencies are used in Europe: Albanian lek; Armenian dram; Azerbaijani manat ...
The Transnistrian Republican Bank has largely been held afloat by economic intervention from Russia who is the only state that has provided financial assistance to Transnistria, however, since 2014, Russian aid has steadily declined forcing the Transnistrian Republican Bank to rely further on domestic and Moldovan financial institutions, investments and credit.
The currency has now surrendered all of its gains from last year to plumb depths not seen since an investor panic in the early days of the war. Skip to main content. Sign in. Mail. 24/7 Help. For ...
Transnistria has its own central bank, the Transnistrian Republican Bank, which issues its national currency, the Transnistrian ruble. It is convertible at a freely floating exchange rate but only in Transnistria. Transnistria's economy is frequently described as dependent on contraband [152] and gunrunning.
On Wednesday, the ruble consequently fell below the rate of 114 to a dollar, the lowest level since early March 2022. The Moscow daily Rossiyskaya Gazeta called it a “panic attack for Russia’s ...
It replaced the temporary cupon currency at a rate of 1 leu = 1000 cupon. In Transnistria, an unrecognized breakaway state which is internationally recognized as part of Moldova, the Transnistrian ruble is used instead. The currency is not honoured by Moldova or any other state.
The rapidly devaluing Russian ruble is related to Western sanctions on the Russian central bank’s $630.2 billion in reserves, which would otherwise have helped the country stabilize the currency.