Just a quick look at the a center of gravity, the financial markets as AdamG put it.
The Bank Rossii supported the ruble with another $ 300m yesterday. Not much compared to Monday, but more the in an usual couple of weeks togheter.
The Bank Rossii has still around $ 150B quite readily available but it certainly wants to play it save.The ruble was affected by "the well-known political factor," Ms. Nabiullina said at a meeting with President Vladimir Putin and members of the government.
To prevent the ruble from declining further, the central bank unexpectedly raised interest rates on Monday and sold $ 11.3 billion on the open market from its currency reserves. This contrasted with daily interventions by the central bank of a few hundred million dollars in previous weeks. On Tuesday the central bank spent $300 million to prop up the ruble, Ms. Nabiullina said.
She said that a prolonged strengthening of the ruble is possible only if Russia's economic fundamentals improve.
@mirhond: A crashing stock market in Russia, mostly due to a natural market reaction to military conflict, is actually a pretty targeted outcome against the Russian elite and upper class . I doubt that more then 15% of the Russians hold directly shares. The talk of economic sanction has certainly done it's part too. If the occupation flares up again, the Russian shares will obviously bear the brunt.
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