The Central Bank of Russia decided today, February 28, to keep the Moscow Stock Exchange closed until at least tomorrow. The decision was made after the item fell almost 30% after the sanctions imposed by the West on the main Russian banks; as well as by the exclusion of the SWIFT international interbank communication system.
“Due to the current situation, the Bank of Russia has decided not to open a stock market section, a derivatives market section or a derivatives market section on the Moscow Stock Exchange today,” it said in a statement.
The monetary authority also specified that it will announce the operating hours of the park on Wednesday at 9:00 local time (06:00 GMT).
The item fell more than 23% against the dollar
The Russian currency at 13:30 GMT (8:30 am Peru time) lost 23.18% against the US currency and stood at 103.16 rubles per dollar, according to Efe.
While against the euro it fell 22.67% and stood at 115.6 items per euro.
Bank of Russia measures to counter crisis
The Bank of Russia has taken measures on Monday to guarantee the financial stability of the sanctioned banks, such as the release of accumulated capital reserves worth 733,000 million rubles (US $ 6,963 million) for consumer loans and mortgages.
It also raised interest from 9.5% to 20% and recommended that banks restructure debt rather than impose penalties or fines if the financial situation of borrowers deteriorated as a result of sanctions.
With information from Eph.
Source: Larepublica
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