MOSCOW (Reuters) – The rouble plunged to its lowest since early 2016 on Thursday after President Vladimir Putin ordered Russian forces to invade Ukraine, a move which led the Moscow Exchange to suspend trading.
Russian forces fired missiles at several Ukrainian cities and landed troops on its south coast on Thursday, officials and media said, after Putin authorised what he called a special military operation in the east.
The rouble has slumped 3.6% against the dollar to 84.0750, minutes after opening at 0400 GMT and slid 3.9% to a record low 95.2425 versus the euro, before trading was swiftly halted.
“Trading on all markets has been suspended. The resumption will be announced later,” MOEX Group, which runs the Moscow Exchange, said in a statement at 0452 GMT.
While trading on the Moscow Exchange was closed, Russian banks raised exchange rates sharply. Alfa Bank offered to buy dollars and euros at 91.44 and 101.11 roubles, respectively.
By 0542 GMT, the rouble was down 10.5% on the interbank market at 89.71, its weakest on record.
Russia’s largest lender Sberbank offered to buy euros at 116 roubles, the RIA news agency reported.
Brent crude oil, a global benchmark for Russia’s main export, was up 5.6% at $102.22 a barrel.
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(Reporting by Alexander Marrow; Editing by Jacqueline Wong)