Alwaght- Russia's currency ruble dived around 29% against the dollar on Monday after Western nations announced fresh sanctions on Moscow for Ukraine offensive, and President Vladimir Putin put its nuclear forces on high alert.
The ruble was trading as low as 119 per dollar as offshore trading started in the morning during Asia hours, from nearly 84 per dollar the previous day, according to Factset data.
Russia’s central bank on Monday confirmed it had barred its brokers from carrying out sell orders from foreigners as it seeks to contain the financial market fallout. It also said it would be freeing 733 billion rubles ($8.78 billion) in local bank reserves to boost liquidity.
It came as the Russia-Ukraine crisis shows no sign of abating.