Rouble heads to record low, sell-off hits stocks as Russia invades Ukraine
The rouble bounced off all-time lows on Thursday as the central bank announced FX interventions and stocks plummeted, bracing for harsh sanctions against Moscow, after President Vladimir Putin ordered Russian forces to invade Ukraine. No Russian assets were left unscathed as Russian forces fired missiles at several Ukrainian cities and landed troops on its south coast, after Putin authorised what he called a special military operation in the east. For the first time since 2014, when Russia annexed Crimea from Ukraine, the central bank said it will support the rouble with foreign currency interventions to shore up financial stability.
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