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The fall of the ruble and stocks became one of the strongest in history

The fall of the ruble and stocks became one of the strongest in history

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Jim Anderson - Public Relations

The Russian currency lost about 5% on the first trading day after a long weekend. By Tuesday evening, the dollar was worth 71.8 rubles, which is 3.27 ruble higher than Friday's close. The euro. Was trading at 81.4 rubles (+3.9 ruble). The stock market opened with a drop in the Moscow Exchange and RTS indices by 7.9% and 8.6%, they closed with a fall of 8.1% and 13%.

According to the Moscow Exchange, stock trading on Tuesday reached 257.3 billion rubles. This is almost three times higher than the average daily turnover since the beginning of the year (91 billion rubles) and five times more than the average turnover last year (46 billion rubles). 

So the market won back the collapse of the OPEC+ oil production reduction deal. Due to which on Monday, March 9, the price of Brent oil fell by 330% and reached $31 per barrel at the bottom. This is the most significant daily drop since 1991. On Monday at Forex, the ruble fell to the dollar by 8.8% to 74.5 rubles. To the euro – 9.7% up to 85 rubles. Russian companies traded in London lost up to a third capitalization.