TOKYO (AP) — The ruble sank practically 26% towards the U.S. greenback early Monday after Western nations moved to dam Russian banks from the SWIFT world fee system.
The ruble was buying and selling at a document low 105.27 per greenback, down from about 84 per greenback late Friday.
Over the weekend, Japan joined the strikes by the U.S. and different western nations to impose extra sanctions towards Russia.
Restrictions on the Russian central financial institution goal its entry to greater than $600 billion in reserves the Kremlin has at its disposal. They hinder Russia’s potential to assist the ruble because it plunges in worth.
Sanctions introduced earlier had taken the Russian forex to its lowest degree towards the greenback in historical past.