Due to the sharp fall in rubles, the Central Bank of the Russian Federation suspended the purchase of currency.
Today, the dollar exchange rate on the Moscow Stock Exchange exceeded 79 rubles for the first time since November 2020, and the euro exchange rate is 89 rubles, which was the maximum since July last year.
And according to the Intercontinental Exchange, the price of Brent crude oil dropped lower to $87.9 per barrel during the day.
Due to the sharp fall in rubles, the Central Bank of the Russian Federation suspended the purchase of currency.
In addition, the Moscow Stock Exchange index declined by 4.7%, as a result of which large Russian companies lost in the value of shares.
At the same time, in the afternoon, the Moscow Stock Exchange index decreased by 7% to 3158.46 points, and the RTS index fell by 10%, reaching 1260.55 points, which was the minimum from November 23, 2020.
In particular, the shares of Sberbank decreased by 7%, and Gazprom – by 9%, and VK securities fell by 11%. The paper of the retailer “Lenta” fell the most, losing almost 14%.
The main reason for the fall of the Moscow Exchange, according to experts, is geopolitical changes, as well as the aggravation of relations between Russia and the United States.
This includes the evacuation of American diplomats and their families from the territory of Ukraine.
The reason for the evacuation was “the threat of military action from Russia.” Following this, NATO announced an increase in its presence in Eastern Europe.
Earlier, Topnews wrote that the Russian stock market showed a record drop since the beginning of the pandemic.