The ruble proved resilient to other emerging-market assets collapsing on Monday, after the latest round of U.S. sanctions proved less severe than investors feared,Bloombergreports. While developing-nation assets tumbled on Monday as the U.S.-China trade warescalated, the ruble climbed for the first time in seven sessions and bonds were flat. Russian markets slid on Friday after initial reports of the new restrictions, which for the first time extended to the official debt. “The draconian sanctions that many had in their negative scenarios weren’t realized,” said Valery Vaisberg, head of research at Moscow-based investment houseRegion. “The. Read more...
Shops in the self-proclaimed Lugansk People's Republic (LNR) have shifted to settlements in rubles.Ruble price tags were put on commodities in supermarkets and small stores on Tuesday morning, an Interfax correspondent has reported. Prices have been converted by a rate of one Ukrainian hryvnia to two rubles. Markets are still using the hryvnia and the ruble. Sellers say they will put ruble price tags on their goods soon. Both shops and markets claim to have no inconveniences shifting to the Russian ruble. In turn, currency exchange offices are selling the Ukrainian hryvnia for 2.6 rubles. LNR leader Igor Plotnitsky said earlier the republic should shift. Read more...
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