Many countries have been negatively impacted by the Russian-Ukraine conflict.
In late February 2022, Russia invaded Ukraine by means of airstrikes and infantry. This major conflict has driven several countries’ currencies to depreciate as political stability decreased in the area.
Turkey’s annual inflation has been soaring to record-high levels since the currency devaluation triggered by interest rate cuts last year.
As we review the ongoing crisis in Lebanon, our data and client engagement teams have paired up to provide information about the markets and details on how organizations are handling the challenges associated with inbound and outbound Lebanon assignments.
With the ruble falling almost 15% over the weekend, you may soon be hearing concerns about Cost of Living Adjustments (COLAs) and exchanging money from your assignees in and out of Russia.
Many of January’s exchange rate fluctuations result from interest rate changes during the latter half of 2021.
Inflation remains to be the consistent driver of exchange rates this month along with a few new factors.
Many countries that were maintaining steady interest rates have decided to increase them due to rising consumer prices.
This month’s changes resulted from specific economic niches ranging from rising prices in raw resources, political instability, and an increase in tourism. COVID-19 continues to impact the economic future of certain nations as travelling restrictions are set between countries.
