Moscow's stock exchange will not open Monday, the Russian Central Bank said, after the country's currency plummeted in the wake of Western sanctions.
“Due to the current situation, the Bank of Russia has decided not to open a stock market section, a derivatives market section, or a derivatives market section on the Moscow Exchange today,” the statement from the bank read.
The Russian Central Bank also said it would announce the opening times for Tuesday on the day, at 9:00 a.m. local time (1 a.m. ET)
The suspension of trading comes after the Russian currency, the ruble, plunged nearly 30% on Monday, as markets began to assess the impact of sanctions imposed by the United States and NATO allies on Russia over its invasion of Ukraine.