The Moscow Stock Exchange plummets to its lowest level in the last five and a half years and the ruble accentuates the descent in an increasingly difficult market, following the new collapse of oil prices on world markets and growing speculation on the solidity of Russia itself. The sanctions and their increasingly stringent effects on the country's economy also weigh.
The Russian currency fell during the day to new absolute lows against the major currencies, down to 53,66 for a greenback and 65,80 for the single currency. Compared to Friday, it depreciated by 2,2% and 1,8% respectively. In other words, the ruble (which since the beginning of the year has lost almost 40% of its value against the dollar, 19% since the beginning of November) burned the rebound ascribed on Friday on the emotional wave caused by the news of the Bank's support interventions Central Russia.
Today this hand of the Institute, which in the entire last octave is estimated to have spent 4 billion dollars to support the currency, has not been seen and the market has therefore returned to looking for ever lower equilibrium levels.
Today, however, attention has also and above all been focused on oil, which has reached new lows in the last five years and which, for Russian coffers, represents over 70% of exports. This aspect also affects the Stock Exchange, which has slipped to its lowest levels since July 2009. The Micex index dropped 2,4% and the Rts 3,6%. Sberbank, the largest credit institution in the country, was today also rejected by Bank of America (market rating brought to 'neutral' by 'buy') and lost 3,5%, returning to the levels of October 2011.
