The ruble exchange rate increased volatility against the dollar and the euro after the resumption of trading on the Moscow Exchange and taking into account the foreign exchange interventions of the Bank of Russia on Thursday, February 24.
At the moment, the dollar renewed its historical maximum, the euro rose to the levels of mid-December 2014.
Thus, the exchange rate of the American national currency at the moment was 89.6 rubles, the euro – 99.99 rubles.
The cost of the dual-currency basket – $0.55 and €0.45 – increased by 6.63 rubles, to 92.53 rubles.
The Moscow Exchange stopped trading on all markets on Thursday morning, but then resumed. The suspension was due to the fact that shortly after the opening of trading, the Russian stock market and the ruble fell to the limits set by the exchange. Thus, the US dollar jumped above 86 rubles, updating the historical maximum of January 2016. Less than an hour later, trading was suspended again.
The St. Petersburg Stock Exchange also announced the suspension of trading.
The Bank of Russia began interventions in the foreign exchange market in order to stabilize the situation in the financial market. The Central Bank promised to expand the Lombard list and conduct operations on Thursday to provide additional liquidity to the banking sector.
They assured that the regulator has clear action plans for any scenario.
The market reacted in this way to the announcement by Russian President Vladimir Putin of a military special operation to protect the civilian population of Donbass. He stressed that Moscow was left no choice, and its actions are not connected with infringing on the interests of Kiev, but with protecting itself from “those who took Ukraine hostage.”
President of Ukraine Volodymyr Zelensky on the same day announced the introduction of martial law throughout the country and convened an emergency meeting of the Security Council.
The day before, the Kremlin announced the appeal of the heads of the DPR and LPR Denis Pushilin and Leonid Pasechnik to Putin, who asked him to help repel the increasing acts of aggression by the Ukrainian security forces in order to prevent a humanitarian catastrophe and civilian casualties.
The situation on the line of contact in Donbass escalated on February 17. In the Donetsk and Luhansk People’s Republics, they complained about the shelling by the Ukrainian security forces, including from heavy weapons. The republics announced a general mobilization and evacuation of civilians to the territory of Russia.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
