The ruble fell to a historic low against the dollar and the euro today in a sharp trading session after President Vladimir Putin ordered Russian forces to invade Ukraine, a move that is expected to trigger new sanctions against Moscow.
At 09:20 Greek time, the ruble fell 8% against the dollar to 87.55, having earlier fallen to a historically low level of 89.60. The Russian currency lost 6.3% to 97.51 against the euro, having earlier fallen to the level of 99.99.
The MOEX group, which manages the Moscow stock exchange, temporarily suspended trading this morning, with trading resuming at 09.00 Greek time. The RTS (dollar) stock index fell 26% to 906.96 points, its lowest level since early 2020. The Russian MOEX index (in rubles) fell 22% to 2,419.0 points.
Yields on Russian 10-year bonds in OFZ rubles, which are moving against their prices, rose 10.93%, to the highest level since the beginning of 2016.
Russia’s largest bank, Sberbank, has said it has prepared for any developments and has worked out various scenarios to protect its customers’ capital, assets and interests.
Meanwhile, the central bank said it would launch foreign exchange intervention and provide additional liquidity to the banking sector.
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