The Bank of Russia on Monday, January 24, announced the suspension of the purchase of foreign currency under the budget rule from 15:00 Moscow time. This is stated in message on the regulator’s website.
Thus, the Central Bank made an attempt to save the ruble from a collapse amid the aggravation of the situation around Ukraine. On this news, the dollar and the euro fell by 50 kopecks.
As of 16:15, the dollar is worth 78.37 rubles (plus 1.17 since the beginning of trading), the euro – 88.5 rubles (plus 0.79 percent). The Moscow Exchange index falls by 5.6 percent, the RTS index – by 7 percent.
The reason for the fall of the Russian market was the aggravation of the situation around Ukraine. NATO decided to strengthen the grouping in Eastern Europe, which was seen as a response to the Russian ultimatum.
The press secretary of the President of Russia Dmitry Peskov, commenting on the situation, blamed the collapse of shares on hysterical and provocative actions by the West. In his opinion, the stock market will return to its original values, as it always happened, but the Kremlin representative did not name the timing of such a development of events.
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