The Russian stock market fell on Tuesday, with indices recording a decline of more than 8% at the opening of trading sessions, following Moscow recognized the independence of two Ukrainian separatist regions loyal to it in the midst of a crisis between Russia and the West over Ukraine.
The main index of the Moscow Stock Exchange «RTS» denominated in dollars, lost 10.8%. The ruble-denominated “IMOEX” index declined by 8.8%.
The value of the Russian currency also declined, with a trading price of 91 rubles for the euro and 80.7 for the dollar.
The central bank announced that it is closely monitoring the situation.
“The Bank of Russia continues to control the situation in financial markets and is ready to take all necessary measures to maintain financial stability,” he said in a statement.
On Monday evening, Russian President Vladimir Putin announced the recognition of the independence of the breakaway regions of Donetsk and Luhansk in Ukraine, paving the way for the deployment of Russian forces.
(AFP)
