Russia’s central bank cautiously reopened bond trading on the Moscow exchange Monday for the first time since the country invaded Ukraine, with the price of Russia’s ruble-denominated government debt falling and sending borrowing costs higher.
Stock trading remained closed, with no word on when it might reopen.
The central bank bought bonds to support prices. The bank has imposed wide-ranging restrictions on financial transactions to try to stabilize markets and combat the severe fallout from Western sanctions that have sent the ruble sharply lower against the U.S. dollar and the euro.
