Former Kremlin official blames the ruble's crash on Russia's stockpile of rupees that's stranded in India    

"We have nothing to buy in India, but we cannot return these rupees, because the rupee is an inconvertible currency."

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Ukraine war: sanctions-hit Russian rouble crashes as Zelenskiy speaks of ‘crucial’ 24 hours
Some analysts expect a ‘complete collapse’ in currency amid signs one state-backed bank could fail, while Ukraine president warns key moment has arrived

Kremlin Unfazed as Ruble Crashes Through 100 vs. Dollar - The Moscow Times
The Russian ruble’s slide past 100 against the dollar has exposed a multi-billion dollar dilemma at the heart of the Russian economy: how can the Kremlin carry on funding its war against Ukraine without triggering a surge in inflation and fresh fears of an economic crisis at home?