The Russian ruble continued to register losses against major Western currencies on Monday, plummeting over 2%.
The Bank of Russia previously revealed that it would halt the purchase of foreign currencies on the domestic market until the end of 2023, with the aim to reduce financial market volatility. Earlier today, the bank shared in a statement that it will be holding an "extraordinary meeting" on August 15, to address the issue of the key rate level.
The dollar surged 2.09% against the ruble to go for 101.21060 at 4:30 pm CET. The euro soared 2.20% in comparison to the Russian currency, selling for 109.0513 concurrently.
