On Monday, the dollar rose to a temporary record high of 120 rubles due to Russia’s escalating dispute with the West.
(Photo: imago images/ITAR-TASS)
Dusseldorf After the crash at the start of the week, the Russian ruble stabilized on Tuesday. According to the financial service Refinitiv, one dollar was trading at around 92 rubles in the morning. The day before, the dollar had risen to a record high of 120 rubles at times because of Russia’s escalating dispute with the West. Before the recognition of the separatist republics in eastern Ukraine and the invasion, the dollar was still trading at just under 80 rubles.
Stock trading, on the other hand, remains suspended and the Moscow stock exchange is closed. Trading on the stock and derivatives exchange will not resume on March 1, the Russian central bank decided on Monday evening.
What was striking on Monday was the large difference between the ruble quoted in Moscow and prices on the international markets of ten rubles and more. This is exceptional for a market the size of Russia and shows how trading is being disrupted by investor rushes to sell.
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