US sanctions take bite out of Russian stocks & ruble

ArticleDeflationApril 10, 2018 - 3:56:48 AM

Russian currency and stocks on the Moscow Exchange dropped significantly on Monday after Washington expanded the sanctions list against Russian businessmen and companies.

The ruble-traded MICEX index fell 8.5 percent, while the dollar-denominated RTS index suffered a 11.5 percent loss in value as of 16:21 MSK, dropping to the lowest level since September last year.

The ruble also plunged against the major currencies, depreciating over 3 percent against the dollar and the euro. The Russian currency was trading at almost 60 against the greenback and more than 74.5 against the euro, the worst result against the Europe...

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