Russia’s currency sank to a record low Monday as traders struggled to get access to the ruble.
The ruble fell to 137 to a dollar, a decline of more than 10% from Friday’s close, as traders say that the ability to buy and sell the Russian currency has become more limited as fewer banks want to settle transactions against it in the offshore market.
Russian markets were also closed Monday for a holiday, likely further reducing the number of trades happening. The country’s markets were shut last week as Russia tried to contain the fallout from sweeping Western sanctions in response to Moscow’s invasion of Ukraine.
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March 07, 2022 at 10:23PM
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Ruble Sinks to Fresh Lows With Russian Market Shut - The Wall Street Journal
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