Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Mon, 28 Feb 2022 01:02 PM IST
Summary
Rouble Crashed 30 Percent Today: The ongoing war between Russia and Ukraine is getting intensified. On Monday, the fifth day of the conflict, Russia’s currency once again recorded a major fall and it fell by 30 percent against the US dollar to its all-time low.
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hear the news
Ruble reached the level of 118
On Monday, the ruble fell to its all-time low against the dollar. The dollar index rose to 97.37. It reflects the appreciation of the dollar against the six major currencies of the world. Correspondingly, the Russian ruble slipped to a level of 118 against the US dollar, which is its lowest level ever. Significantly, against the Russo-Ukraine war, many Western countries have announced fresh economic sanctions on Russia, after which the dollar is seeing a strong rise.
Hence the increased pressure on the ruble
As the war between Russia and Ukraine escalates, its effect is being seen around the world. Let us tell you that America and Europe have increased economic sanctions on Russia and on Saturday, SWIFT international payments were banned. This is the biggest reason due to which the pressure on the Russian currency ruble has increased. Let us tell you that the Russian currency ruble registered a strong jump on Friday, the last trading session of last week, after falling on Thursday, the day of the attack on Ukraine. The ruble had hit 90 levels against the US dollar on Thursday after Putin ordered an attack on Ukraine, but on Friday it bounced back and rose 2.3 per cent to 83.30 against the dollar.
Ban imposed on selling securities
On the one hand, the decision of the Western countries to attack Russian President Vladimir Putin is being termed as wrong and many types of economic sanctions are being imposed on the country. On the other hand, the Central Bank of Russia (Bank of Russia) has also taken a big step, upset by these sanctions. Under this, the sale of Russian securities by foreign investors has been banned. After this decision, no foreign investor will be able to sell the holdings of Russian Securities.
raised interest rates to 20 percent
Apart from this, Bank of Russia has taken another big decision. Under this, the central bank has unexpectedly increased interest rates by more than 100 percent amid all the economic restrictions imposed on its country. In view of the economic sanctions imposed by Europe and America, it has increased the key interest rates from 9.5 per cent to 20 per cent. Let us tell you that with this increase, the rates have reached the highest level of the last two decades.
Expansion
Ruble reached the level of 118
On Monday, the ruble fell to its all-time low against the dollar. The dollar index rose to 97.37. It reflects the appreciation of the dollar against the six major currencies of the world. Correspondingly, the Russian ruble slipped to a level of 118 against the US dollar, which is its lowest level ever. Significantly, against the Russo-Ukraine war, many Western countries have announced fresh economic sanctions on Russia, after which the dollar is seeing a strong rise.
Hence the increased pressure on the ruble
As the war between Russia and Ukraine escalates, its effect is being seen around the world. Let us tell you that America and Europe have increased economic sanctions on Russia and on Saturday, SWIFT international payments were banned. This is the biggest reason due to which the pressure on the Russian currency ruble has increased. Let us tell you that the Russian currency ruble registered a strong jump on Friday, the last trading session of last week, after falling on Thursday, the day of the attack on Ukraine. The ruble had hit 90 levels against the US dollar on Thursday after Putin ordered an attack on Ukraine, but on Friday it bounced back and rose 2.3 per cent to 83.30 against the dollar.
Ban imposed on selling securities
On the one hand, the decision of the Western countries to attack Russian President Vladimir Putin is being termed as wrong and many types of economic sanctions are being imposed on the country. On the other hand, the Central Bank of Russia (Bank of Russia) has also taken a big step, upset by these sanctions. Under this, the sale of Russian securities by foreign investors has been banned. After this decision, no foreign investor will be able to sell the holdings of Russian Securities.
raised interest rates to 20 percent
Apart from this, Bank of Russia has taken another big decision. Under this, the central bank has unexpectedly increased interest rates by more than 100 percent amid all the economic restrictions imposed on its country. In view of the economic sanctions imposed by Europe and America, it has increased the key interest rates from 9.5 per cent to 20 per cent. Let us tell you that with this increase, the rates have reached the highest level of the last two decades.