The Russian Ruble Falls to a Record Low

The Russian ruble fell by nearly 29% against the dollar on the morning of Monday, February 28, as markets assessed the impact of sanctions announced by the United States and European countries on Russia.

America and its allies announced that Russia was deprived of the use of the global banking system Swift, with the aim of tightening sanctions against it because of the military operation it is carrying out in Ukraine.

The ruble was trading as low as 119 rubles per dollar, at a time when the Russian-Ukrainian crisis shows no signs of abating.