Biden Claims US Dollar Equals 200 Russian Rubles - Video

MOSCOW (Sputnik) - The US President told a cheering crowd in Warsaw that sanctions imposed on Russia by his administration had left its economy in tatters, with the US dollar trading at a record high of 200 Russian rubles, despite the fact that on the day of the speech the official exchange rate stood slightly below 100 rubles for a US dollar.

"As a result of these unprecedented sanctions the ruble was almost immediately reduced to rubble. The Russian economy — it’s true by the way it takes about 200 rubles equal one dollar — is on track to be cut in half in the coming years," Biden said.

"The ruble was almost immediately reduced to rubble."

President Biden speaks about the effect sanctions have had on Russian currency, saying the exchange rate from rubles to USD is 200 to 1, although the current rate is closer to 100 to 1. pic.twitter.com/H3FV9PAmlH

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The Russian central bank’s official exchange rate for Saturday stood at only 95.7 rubles for a US dollar but some experts says that the US currency has been trading at twice that value on the black market.