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Friday, 19 October 19:15 (GMT -05:00)



Future U.S. Sanctions Against Russia Dropped Russian Ruble


Russian journalists managed to get familiar with the draft of forthcoming anti-Russian sanctions. Shortly after the draft was published, the Russian Ruble started losing its value against the U.S. Dollar. The exchange rate dropped all the way down to the 24-month low, Market Leader reports. Russian stocks and bonds also followed the Ruble. Experts say that this the downtrend is how the market responded to the news.
 
Russian media published the full text of the draft implying the introduction of devastating sanctions against Russia for interfering in the latest presidential election in the United States.
 
In the meantime, NordFX reports that after the news the Russian Ruble instantly lost 2,2% of its value against the U.S. Dollar, which is quite a big daily drop for this currency pair. In particular, the USDRUB  exchange rate reached 64,91 and continued to go in the same direction, thereby devaluing the Russian national currency. At this point, it has already exceeded the 69 threshold. This means that the currency pair managed to break out of the price range established in April and has been trading out of it ever since. 
 
Still, some experts are indignant at the wrong conclusions made by the community. They say that this draft should be interpreted correctly. At the same time, they even doubt that this draft will eventually turn into a bill, given President Trump's calls for tighter cooperation with Russia. Still, the market panic that settled in since the release is likely to persist for some time in the near future.

 

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Publication date: 18 June 09:47 AM