The developments were unexpected for stockbrokers, as analysts earlier forecasted the start of recovery on Friday, following a two-day plunge.
On August 10, Russia's national currency, the ruble, once again updated its 2-year low against the U.S. dollar, falling to the level of August 2016, in the face of the latest threat of new sanctions U.S. being imposed against Russia and further tightening of the American sanctions policy.
The ruble rate on Friday, August 10, continued its decline, breaking the psychological barrier of RUB 67 per dollar, according to the data on the Moscow Exchange's website.
This was unexpected for stockbrokers, as analysts earlier forecasted the start of recovery on Friday following a two-day plunge as they assumed the investors' first reaction to the threat might wear off.
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The reasons for the sharp drop in the Russian currency were Washington's plans announced on August 8 to impose new sanctions against Russia in view of an assassination attempt on ex-Russian double agent Skripal and his daughter Yulia in the UK.
This caused an immediate fall in the ruble rate.
In turn, Russian Finance Minister Anton Siluanov commented on the situation, noting that the reason for the ruble fall was not only the current volatility in the markets because of future U.S. sanctions, but also the instability in emerging markets.
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The first package of restrictive measures with regard to Russia is expected to be introduced on August 22.
The initial restrictions will be related to the ban on the export of dual-use goods to Russia. If Moscow does not provide within three months guarantees of non-use of chemical weapons and does not allow international inspectors to Russia, the U.S. authorities can impose additional sanctions.