New low-record for the ruble

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The Russian ruble fell to a new low in trading outside Russia, while local markets remain closed at least until Wednesday, according to Reuters.

The ruble fell to 130.9338 against the dollar, after closing at 121.037 on Friday, according to data from Refinitiv. On the EBS trading platform, the ruble fell as low as 140.00 against the dollar.

The trading on the Moscow Stock Exchange is scheduled to remain closed until Wednesday. The shares were last traded on February 25 on the Moscow Stock Exchange.

The ruble has lost more than 40 percent of its value against the dollar since the beginning of the year, with losses accelerating sharply after Russia’s invasion of Ukraine on February 24, which sparked sweeping sanctions from the West, isolating the country. from international financial markets.

“It has become very difficult to trade the ruble after the sanctions,” said Aaron Hurd, a senior executive at State Street Global Advisors. “Liquidity has disappeared and markets have become very volatile.”

Source: Capital

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