On February 24, local time, data from the Moscow Stock Exchange showed that the exchange rate of Russia’s local currency, the ruble, plummeted after Russian President Vladimir Putin announced his decision to launch a special military operation in the Donbas region.
Moscow Stock Exchange (MOEX) data showed that the Russian stock market opened lower in early trading on the 24th, and the Mozambique index fell 9.65%.
About two hours after the market opened, the Mozambique announced that all market trading was suspended.
Stocks continued to tumble after markets resumed trading, falling more than 40% intraday.
The Central Bank of Russia announced on the 24th that in order to stabilize the financial market, the Central Bank of Russia decided to intervene in the foreign exchange market to provide additional liquidity for the banking industry.
(Produced by Wang Jiayi)
Responsible editor: [Cheng Chunyu]