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 Ruble continues plummeting: dollar reaches 62 rubles, euro passes 77-ruble mark

The USD/RUB high reached 62.45, and euro hit 77.50 during trading on the Moscow Exchange Monday.

It is reported by Censor.NET citing RBC.

The value of the Russian currency fell by more than 7% compared to the previous day's closing.

Read also: Putin's Economic Recipe Reveals Panic in Kremlin - Bloomberg

Chief Expert of the Gazprombank Center for Economic Forecasting Yegor Susin believes that such a rapid growth of the dollar today on the Moscow Exchange trading could be due to the execution of some currency contracts. "It is possible that the stops have been triggered and the traders had to buy dollars," he said.

Head of trading at the BCS currency trading Alexander Mulberger said that a considerable amount of currency - from $500 million to $1 billion - has been dumped on the market today.


 
 
 
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