When Russia launched its military attack on Ukraine amid an international outcry, a number of fiat currencies from Central and Eastern Europe fell, while user interest in Bitcoin (BTC) increased somewhat throughout the region.
In the Aggressor market, in response to the outbreak of the war, the Moscow Stock Exchange index plunged by almost 38% to around 1,167, according to Bloomberg data.
The exchange temporarily suspended trading, but resumed it after about two hours at 10 am local time.
At the same time, the Russian ruble fell to its all-time low against USD and EUR in extremely volatile trading at 0.011 RUB / USD 1 and 0.010 RUB / EUR 1, according to data, as investors continued to flee the market in anticipation of tougher Western sanctions against Moscow.
In Kremlin-friendly Belarus, the country’s currency has also reached its record low, which prompted the National Bank of the Republic of Belarus, the country’s central bank, to stop publishing data on the fall of the ruble against the USD, as local journalist Hanna Liubakova reported.
In the attacked country, under a series of temporary measures to save the Ukrainian economy, the Central Bank decided to limit cash withdrawals from bank accounts to about UAH ($3,390) per day.
The National Bank of Ukraine has also set the official exchange rate for Thursday, as the Wall Street Journal reports. When the nation was under martial law, the Ukrainian PFTS exchange ceased its activities. As all these events continue to undermine currencies throughout the region, Bitcoin trended in the early hours of Thursday in numerous Central and Eastern European states, as can be seen from the Google search data for Latvia, Lithuania, Poland, Russia and Ukraine. However, interest worldwide also increased over the past day.
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