Russia's Ruble Value Declines Following Wagner Armed Rebellion

Russia MOEX Index also down 0.84%

Russia is experiencing turmoil following the Wagner Group rebellion. The value of the Russian ruble against the dollar has fallen to its lowest level in 15 months, and the local stock market is also showing a downward trend.

According to foreign media including TASS news agency, as of 9:35 a.m. local time on the 26th, the ruble was trading at 85.1050 per dollar, down 0.6% from the previous trading day. The MOEX, the representative index of the Russian stock market linked to the ruble, also recorded 2,771.52 points at 10 a.m. that day, down 0.84% from the previous trading day.

Russian currency Ruble [Image source=Yonhap News]

This day marks the first trading day after the armed rebellion by the Russian private military company Wagner Group ended. Earlier, Yevgeny Prigozhin, the head of the Wagner Group, criticized the Russian military leadership on the 24th and led the mercenary group from Ukraine to near Moscow, launching an armed rebellion.

Subsequently, the Wagner Group halted the rebellion and withdrew the day before, mediated by Alexander Lukashenko, the President of Belarus. The West anticipates that if this military rebellion weakens the position of Russian President Vladimir Putin, Russia could fall into chaos.

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