The purchase of foreign currency is suspended from 14:00 Kyiv time on January 24, 2022.
As of 15:42 Kyiv time, the Russian ruble was worth $0.013 / REUTERS illustration
Against the backdrop of the depreciation of the Russian ruble , the Central Bank of the Russian Federation decided not to purchase foreign currency on the domestic market.
This was reported by the press service of the Central Bank.
“This decision was made in order to increase the predictability of the actions of the monetary authorities and reduce the volatility of financial markets,” the statement says.
The purchase of foreign currency has been suspended as part of the implementation of the budget rule mechanism from 14:00 Kyiv time on January 24, 2022.
The decision to resume operations on the purchase of foreign currency will be made taking into account the actual situation in the financial markets. When this will happen is still unknown.
As of 16:13 Kyiv time, 1 US dollar cost almost 79 Russian rubles.
Screenshot of Google Finance
The collapse of the Russian stock market:
On January 18, 2022, the Moscow Exchange recorded a drop in the index by 6.5% to 3328 points by the close of trading . Shares of Gazprom, Sberbank and Yandex fell by an average of 10%.
(C)MEDUZA 2022
The exchange rate of the Russian currency at auction on the Moscow Exchange on January 24 is declining. So, during the trading session on January 24, the dollar exchange rate for the first time since November 2020 exceeded the mark of 79 rubles. As of 15:00 Moscow time, the dollar was trading at 79.25 rubles, having risen in price by the close of previous trading by 1.82 rubles.
The euro exchange rate, by 15:00 Moscow time, also rose by almost 1.68 rubles, to 89.55 rubles. The exchange rate of the European currency rose above 89 rubles the previous time in May 2021.
It is also important to point out that the Ruble was at 32 to the dollar before Putin started his invasion of Ukraine.
Gone from 95 to 107 to the Pound in 2 months.
10 years ago it was 45 to the Pound.
Doing a great job putler.