Lovlublublublublublublublubl...The value against the U.S. dollar is at a 32-month low.

Russia's ruble has plunged to a 32-month low, topping 120 rubles per dollar on the 27th local time, news agency RIA Novosti said.

This is the first figure since March 22, 2022, during the early days of Russia's launch of Ukraine's "special military operation," meaning the ruble has fallen in value against the dollar.

Prior to Russia's invasion of Ukraine, the dollar traded at between 75 and 80 rubles.Foreign media such as

Reuters said the fall in the value of the ruble was largely due to the recent rise in tensions between Russia and the West over Ukraine.

On top of that, the weakening of the ruble accelerated on the 21st when the U.S. included Russia's state-owned Gazprom Bank, which plays a key role in settling natural gas transactions between Russia and European countries, on its sanctions list.