Today, the information about increasing interest rates and the new monetary policy of the Russian Central Bank has been passed along on Twitter. It may mean that Russia is having real troubles related to the sanctions given by the EU.
According to the information published on Twitter by “The Kyiv Independent” Russian Central Bank decided to increase the interest rate from 9.5 per cents up to 20 per cent.
⚡️Russian Central Bank raises borrowing rates from 9.5% to 20%.
— The Kyiv Independent (@KyivIndependent) February 28, 2022
Earthquake on the Russian currency market.
The price of the Russian ruble fell to a record low on Monday after Western countries announced new sanctions against Russia.
In the Asian market, the ruble fell against the US dollar to 119.50, down 30% from Friday’s stock market close. Later, the price rose to about 113 rubles per dollar.
The Russian ruble collapsed to 113 against the U.S. dollar at the start of trading in Moscow. The fall comes despite an emergency interest rate hike and an order for exporters to sell hard currencyhttps://t.co/6Q0VjdG0GL
— The Moscow Times (@MoscowTimes) February 28, 2022