Russian rouble drops most in two years on Ukraine invasion warning

Geopolitical tensions proved to be more important for the market than the Bank of Russia’s decision to raise its key interest rate by a hefty 100 basis points to 9.5%, a move that had been largely priced in.(File pic shows Rusian roubles.)

MOSCOW: The rouble fell the most in nearly two years on Friday after the United States said Russia has amassed enough troops near Ukraine to launch a major invasion, urging all US citizens to leave the country within 48 hours.

A rate increase from the Russian central bank and high oil prices were no match to the concern over the perceived escalation towards war.