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Ruble plunges 30% amid e invasion

Started by PocketOption, Feb 28, 2022, 10:21 am

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Ruble plunges 30% amid e invasion

Close-up view of n rubles. Five thousand banknotes.

Ruble plunges 30% amid e invasion


On Monday morning, the n ruble fell nearly 29 percent against the dollar, reaching an all-time low as markets assessed the impact of sanctions on  amid a growing backlash against the Kremlin’s invasion of e.


According to Factset data, the ruble was trading as low as 119 per dollar as offshore trading began in the morning during Asia hours, down from nearly 84 per dollar at the previous close. The ruble later recovered some of its losses and was last trading at 105.27 during the Asian afternoon hours.


As part of its efforts to contain the financial market fallout, ’s central bank confirmed on Monday that it had barred its brokers from carrying out sell orders from foreigners.


After days of air, sea, and land attacks on e, n President Vladimir Putin activated his country’s nuclear deterrence forces on high alert on Sunday.


’s advance into e continues, but e retains control of its capital, Kyiv, and its second-largest city, Kharkiv. On Sunday, n military vehicles entered Kharkiv.


President Joe Biden responded to Moscow’s unprovoked attack on e last week by announcing a series of sanctions against n banks, the country’s sovereign debt, and Putin and Foreign Minister Sergey Lavrov.


Over the weekend, the United States, its European allies, and Canada agreed to disconnect key n banks from the SWIFT interbank messaging system, which connects over 11,000 banks and financial institutions in over 200 countries and territories.


The EU also announced on Sunday that it would close its airspace to n aircraft.


Following the blockage of n banks, there were fears that bank cards would cease to function or that cash withdrawals would be restricted. SWIFT


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