Skip to content
KOKO TV Nigeria
▶ Watch

News & Events

Russia’s Rouble Crashes To Record Low As Western Sanctions Bite

The rouble tumbled to record lows as Moscow trading reopened, despite Russian efforts to shore up its battered economy. Ukrainian President Volodymyr Zelenskiy visits positions of the country’s armed forces near the line of separation from with Russian-backed rebels in Donetsk Region, Ukraine  After two days of market closure, the Russian currency hit a record 120 […]

Published

The rouble tumbled to record lows as Moscow trading reopened, despite Russian efforts to shore up its battered economy.

Ukrainian President Volodymyr Zelenskiy visits positions of the country’s armed forces near the line of separation from with Russian-backed rebels in Donetsk Region, Ukraine 

After two days of market closure, the Russian currency hit a record 120 against the dollar. It clawed back some losses to trade around 117, but this was still a 10pc drop from its closing price on Friday.

Russia’s central bank has tried to limit the damage from western sanctions through a range of emergency measures, including suspending foreign currency sales. But this has largely failed to stem the decline.

Meanwhile, the Moscow stock exchange remains closed in its longest shutdown ever, as authorities scramble to stave off a market collapse.

Black smoke rises from a military airport in Chuguyev near Kharkiv on February 24, 2022. – Russian President Vladimir Putin announced a military operation in Ukraine today with explosions heard soon after across the country and its foreign minister warning a “full-scale invasion” was underway. (Photo by ARIS MESSINIS / AFP)

Photo Credit: Getty