The dollar and the euro soared on against Russian ruble amid the new sanctions of the Biden administration. Dramatic fall of ruble was evidenced by the data of trading on the Moscow Exchange. Thus, the dollar increased by 1.62%, the euro - by 1.53%.
“Today the Biden administration is taking actions to impose costs on Russia for actions by its government and intelligence services against U.S. sovereignty and interests,” reads an official statement of the White House.
The sanctions target more than 30 Russian entities and include the expulsion of at least 10 Russian individuals from the U.S., including intelligence officials and diplomats. The administration also issued an executive order barring U.S. financial institutions from purchasing ruble-denominated bonds beginning in June of 2021, according to a White House fact sheet.
Hence, today, the USD has risen in price towards ruble by 1.62 percent (to 77.4 rubles). The euro exchange rate increased by 1.3 percent (to 92.2 rubles).
Prior to that, the fall of Russian ruble to its lowest level against the U.S. dollar since the beginning of February has been witnessed in March 23, amid the ongoing war of words between the Kremlin and western governments.
The Russian currency dropped by more than 2% during March 23 trading at one point to hit a session low of 76.3 against the dollar — its weakest level since Feb. 1. It also slid to a four-week low against the euro of 90.6 before recovering slightly.
The ruble was down almost 5% in the space of a week following U.S. President Joe Biden’s controversial comments that he agrees Russian President Vladimir Putin is a “killer.”
