Ruble Sinks to Record in Moscow With Ratings Deep in Junk Zone
- Fitch says Russia’s debt-servicing risks have increased
- Sanctions over Ukraine have paralyzed Russian markets
A sign displays foreign currency exchange rates to the Russian ruble at an exchange in Moscow, on Feb. 28.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The ruble sank to a record low against the dollar in intraday trading in Moscow after ratings services lowered Russia’s credit score deep into junk territory.
International sanctions in response to Russia’s attack on Ukraine have forced the central bank to impose capital controls and temporarily shutter the country’s equity and bond markets. Only currency trading is going ahead in a shortened daily session.