The ruble fell to 62.79 per dollar, the lowest level in two months, and the MOEX stock index hit its lowest level since the beginning of the invasion, shortly after President Putin initiated a partial mobilization, Reuters writes.
Subsequently, the ruble and the MOEX index seem to be recovering from losses. After announcing the first partial mobilization since World War II, Putin warned that Moscow would respond with its full arsenal if the West continued what he called “nuclear blackmail.”
The ruble traded at 60.50 per dollar by 9 a.m., but then fell to 62.7975.
The ruble has been the world’s best-performing currency this year thanks to capital controls imposed by the central bank in an attempt to stem a massive sell-off.
Russian stock indexes fell further on Wednesday after Tuesday’s losses as rumors of Russia’s mobilization intensified. Energy giants Rosneft and Gazprom once posted losses of 12% each.
Source: Hot News RO
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