Russian Stock Market Remains Closed Amid Ruble Crash

Axios reports:

Russia’s central bank said the Moscow Exchange wouldn’t open for stock trading through at least Thursday. The exchange has been closed since Monday.

It’s the latest financial fallout of Russia’s invasion of Ukraine, which triggered massive sanctions from several other countries that have sent the ruble plummeting to record lows against the dollar.

Multiple Western corporations have also suspended their retail sales in Russia or have announced plans to exit the country entirely. Russia’s central bank increased interest rates on Monday from 9.5% to 20% in response to the crashing ruble and to prevent a run on banks.

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