Russian stocks are back at pre-war levels as investors see them as safer bets amid the falling ruble.
The Moex index closed at 3,093.64 on Tuesday, above where it was when Russia invaded Ukraine on February 24, 2022.
Fears of political chaos caused Russian demand for foreign currencies to jump to 70%-80% in some regions.
But while the Moex stock index, which is denominated in rubles, has surpassed pre-war levels, it remains well below earlier highs.
Meanwhile, a separate gauge of Russian stocks that's denominated in dollars is more than 10% below pre-invasion levels, Bloomberg said.
Persons:
Vladimir Putin, Wagner Group's
Organizations:
Service, Bloomberg, P
Locations:
Russia, Ukraine, Wall, Silicon, Moscow, China