Russian currency plunges to a record low

New Delhi, Feb 24 : The Central Bank of Russia suspended trading in the foreign-exchange markets on Thursday.

The ruble plunged to a record low after President Vladimir Putin ordered his countrys military to conduct a special operation in the Donbass region, RT reported.

The Russian currency dropped 6 per cent to 86 rubles per US dollar early Thursday - the lowest level on record.Both Moscows and St Petersburgs stock exchanges suspended all trade in rubles after quotes reached the trading band limits set by the exchange itself.

"To stabilize the situation on the financial market, the Bank of Russia decided to start interventions in the foreign exchange market, expand the Lombard list, and conduct operations today to provide additional liquidity to the banking sector," the regulator said in a press release.According to the announcement, the regulator will ensure the maintenance of financial stability and the business continuity of financial institutions by using all necessary tools.

ఒక అమ్మాయి వల్లే జీవితం నాశనమైంది... లవ్ స్టోరీ బయట పెట్టిన నటుడు హర్షవర్ధన్!...

The Russian central bank added that the countrys financial institutions have a clear plan of action for any scenario.Russia is currently holding vast gold and foreign-exchange reserves worth over $600 billion that could be used to prop up the rapidly depreciating national currency if required, the report said.

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