Russia’s stock market surged Thursday following US President Donald Trump’s announcement that he and Russian leader Vladimir Putin had agreed to begin ceasefire negotiations in Ukraine just ahead of the third anniversary of Russia’s invasion of its neighbor.
The ruble strengthened 3.72% against the US dollar, trading at 90.5 rubles per dollar, and gained 3.64% against the euro, reaching 94.04 rubles per euro.
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This is the first time for the ruble to reevaluate since July 2024, according to Investing.com data.
The official exchange rate of the dollar, set by the Central Bank for Thursday is 94.04 RUB/USD. On Wednesday, the dollar was priced at 95.8 RUB/USD, Kommersant wrote.
The market capitalization of the Russian stock market, based on the MOEX index, reached 7.05 trillion rubles by 9 a.m., increasing by 0.5 trillion rubles since the close of the main session on Wednesday, Kommersant wrote.
The MOEX Russian stock market Index plunged more than 6% to 3,210 points, while the dollar-denominated RTS Index climbed over 6% to 1,080, The Moscow Times wrote.
Russia’s major state companies Novatek, Gazprom, Rostelecom and Aeroflot shares rose by more than 8%.
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“The most liquid stocks – Sberbank, Gazprom, LUKOIL, T-Technologies, and Rosneft – reached their highest levels since May-July of the previous year,” Kommersant reported.
The total trading volume for Wednesday and the Thursday morning session exceeded 328 billion rubles, marking a record high since Russia’s February 2022 invasion of Ukraine.
