The Russian ruble fell more than 2% against the euro during Tuesday's trade, as fears of possible new sanctions against Moscow continued to sink Russian currency.
The Russian currency has experienced significant volatility in recent days due to limited liquidity and investors' fears that any new sanctions against Russia over its invasion of Ukraine could restrict access to foreign currency in Moscow.
However, BCS Global Markets said the liquidity factor should give an additional boost to markets while money from Gazprom's dividend flows into the market.
The European currency rose against its Russian counterpart by 2.11% to 58.13 roubles, at 12:14 pm Mecca time.
On the other hand, the dollar declined against the Russian ruble by 0.45% to 58.98 roubles, while the ruble rose against the yuan by 0.84% to 0.1206 yuan.
