Rouble Hits Three-Week Low Amid New US Sanctions

The rouble fell to a near three-week low against the dollar in pre-market trading following new U.S. sanctions on Russia. The sanctions led to the suspension of dollar and euro trading on the Moscow Exchange. Banks took speculative positions, causing the rouble to reach as low as 91.4955.

The rouble fell to a near three-week low against the dollar on the interbank market on Thursday, albeit amid very low liquidity in pre-market trading, after new U.S. sanctions on Russia forced the Moscow Exchange to halt dollar and euro trading.

The dollar's previous close, on the eve of Wednesday's national holiday, was 89.10 to the dollar. On the interbank market, it reached as low as 91.4955 as some banks took speculative positions ahead of the official launch of bids at 0650 GMT.

New U.S. sanctions against Russia on Wednesday forced an immediate suspension of trading in dollars and euros on its leading financial marketplace, the Moscow Exchange. The exchange and the central bank rushed out statements on Wednesday within an hour of Washington announcing the new sanctions aimed at cutting the flow of money and goods to sustain Russia's war in Ukraine.

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