Russian economy in trouble as Rouble tumbles | ITV News
Russia’s Central Bank has sharply raised its key rate from 9.5% to 20% in a desperate attempt to shore up the plummeting rouble and prevent bank runs.
The rouble sharply dived in early Monday trading, as crippling Western sanctions over the Russian invasion in Ukraine began to bite.
The rouble plunged about 30% on Monday against the US dollar as markets opened, after Western nations moved to block Russian banks from the SWIFT global payments system.
The bank’s action follows the Western decision on Sunday to freeze its hard currency reserves in an unprecedented move that could have devastating consequences for the country’s financial stability.
Footage of customers forming queues to withdraw cash from ATMs in Russia began emerging on social media on Monday morning.
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Видео Russian economy in trouble as Rouble tumbles | ITV News канала ITV News
The rouble sharply dived in early Monday trading, as crippling Western sanctions over the Russian invasion in Ukraine began to bite.
The rouble plunged about 30% on Monday against the US dollar as markets opened, after Western nations moved to block Russian banks from the SWIFT global payments system.
The bank’s action follows the Western decision on Sunday to freeze its hard currency reserves in an unprecedented move that could have devastating consequences for the country’s financial stability.
Footage of customers forming queues to withdraw cash from ATMs in Russia began emerging on social media on Monday morning.
• Subscribe to ITV News on YouTube: http://bit.ly/2lOHmNj
• Get breaking news and more stories at http://www.itv.com/news
Follow ITV News on Facebook: https://www.facebook.com/itvnews/
Follow ITV News on Twitter: https://twitter.com/itvnews
Follow ITV News on Instagram: https://www.instagram.com/itvnews/
Видео Russian economy in trouble as Rouble tumbles | ITV News канала ITV News
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