© . FILE PHOTO: A customer hands over Russian ruble banknotes and coins to a seller at a market in Omsk, Russia, Feb. 18, 2022. REUTERS/Alexey Malgavko LONDON () – Devastation erupted in Russian financial markets on Monday after Western powers stepped up sanctions on the country, including cutting off some of its banks from the international SWIFT payment system and imposing curbs on its central bank. Below are four charts showing the magnitude of the current market movements and the response of the Russian central bank. ROUTE OF THE RUBBLE The ruble fell more than 30% in early trading, reaching 110 per dollar in both onshore and offshore trading before recouping some losses. It was worth about $75 at the end of 2021. The exchange was suspended on Monday, but London and Frankfurt-listed depositary receipts and listed funds opened for trading, with the exception of Russian bank VTB whose membership of the London Stock Exchange was suspended on Friday. The London-listed iShares MSCI Russia ETF fell 48%, for a year-to-date loss of 70%. Depositary receipts for Sberbank in London were down more than 70% on the day, down 93% so far. A related chart: Russian ETF: https://fingfx.thomsonreuters.com/gfx/mkt/zdpxokrlqvx/russianETF.JPG RATES RISE The central bank has more than doubled its key interest rate to 20% – the highest in more than two decades – in an emergency. Authorities told exporters to be ready to sell foreign exchange as the ruble plunged to record lows. A related chart: Russia interest rates: https://fingfx.thomsonreuters.com/gfx/mkt/zdpxoknonvx/Russia%20interest%20rates.PNG BONDS BURN Russian hard currency government bonds have fallen dramatically in recent days However, losses were steep on Monday after severe sanctions were imposed. Many of the country’s dollar bonds lost more than 40 cents in the dollar on the day, with longer-dated issues trading at very disturbing levels of 26-33 cents, Tradeweb data showed. Related image: Fall in Russian Dollar Bonds: https://tmsnrt.rs/3tjen6a Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data. Fusion Media or anyone associated with Fusion Media accepts no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.
