Implementation of sanctions against Russia; The Russian ruble depreciated against the dollar

The Russian ruble has depreciated against the dollar as a result of heavy sanctions against Russia over Moscow’s invasion of Ukraine.

According to Deutsche Welle, the value of the Russian currency against the dollar is currently at its lowest level and one dollar is traded at 119 Russian rubles.

The Russian ruble fell 42 percent against the dollar overnight.

The Moscow Stock Exchange is said to have started today at 10 am Moscow time, three hours later than usual.

Russia’s central bank has also announced that it will ban the sale of its securities to foreigners.

Meanwhile, Moscow launched its attacks on Ukraine about five days ago, as a result of which most NATO member states imposed severe sanctions on Russia.