Ruble collapses on Thursday morning, Russian stock exchange suspends trades

The Russian ruble collapsed on Thursday morning after Russian President Vladimir Putin announced a military operation in Ukraine, local media reported. 

The Sputnik news agency reported that the dollar rose above 84 rubles for the first time since January 2016, and the euro above 95 rubles for the first time since December 2014, according to the data of the Moscow Stock Exchange.

According to the Russian news agency, the exchange rate as of 04:57 GMT is at 86.21 rubles per dollar, 96.90 rubles per euro. 

Russian Stock Exchange has suspended trade on all markets after collapsing about 10 per cent immediately after it opened. Russian stock markets fell below 2,750 points on Moscow Exchange Index in the first several minutes of opening.