Russia's Ruble Crashes 10% in Two Days as Investors React to New Sanctions

Russia’s currency and stock market began the week with big losses in response to the new sanctions imposed on Russian officials with strong ties to President Putin.

The Russian ruble continued its decline in Tuesday’s Forex session, trading down 5.5% against the dollar at the lowest point of the day, before closing off with a 4% loss at a rate of 63.01 rubles per dollar:

At the height of the sell-off, the ruble was trading at a level (63.92 rubles per U.S. dollar) not seen since December of 2016.

Russia’s RTS Index was down more than 4% during the first half of the trading session, but managed to recoup most of the losses in the second half of the trading day, finishing with a small loss of 0.4%.

Image credit: 1