The Russian ruble fell to a new record low on Monday (7) in international trade, with local markets closed until at least next Wednesday.
The ruble weakened to 133.5 per dollar after closing at 121.037 last Friday, according to Refinitiv data. On the EBS trading platform, the ruble even dropped to 141 per dollar.
Trading on the Moscow MOEX exchange will be closed until Wednesday due to a bank holiday.
The ruble has lost more than 40% of its value against the dollar since the start of the year, with losses accelerating sharply since Russia invaded Ukraine on Feb. 24, triggering sanctions from the West.
Restrictions on Russia, its banks, companies and important individuals, as well as countermeasures from Moscow, have suppressed Russian assets from global financial markets.
“It is very difficult to trade the ruble after sanctions,” said Aaron Hurd, senior portfolio manager at State Street Global Advisors. “Liquidity disappeared and markets became very volatile.”
Russia calls its actions in Ukraine a “special operation”.
The last day of trading on the Moscow Stock Exchange was on February 25.
Source: CNN Brasil
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