Rouble Russia-Ukraine war: Rouble tanks to all-time low as market opens
Moscow/UNI: The Rouble currency dipped to an all-time low versus the US dollar on Monday as markets opened for trading on the first day after western nations punished Russia with economic sanctions for its invasion of Ukraine.
The Russian currency dropped nearly 30 percent to as low as 119 per dollar.
The sanctions include blocking some Russian banks from the Swift international payments system, leading investors to anticipate a run on the Russian currency as people try to change their money for dollars and other denominations, the Guardian reported.
"The escalating crisis in Ukraine will force markets to price in a substantially higher geopolitical risk premium," said strategists at the Australian bank Westpac, while additionally saying that the Ukrainian situation is volatile.
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