Tetra’s record price against the Russian ruble; The work of Russian traders is becoming increasingly difficult

According to the latest statistics, the price of Tetra in the markets trading in this digital currency against the ruble, the Russian national currency, has risen sharply in the last few days. Russian officials are looking for new monetary policies to counter inflationary pressures from foreign sanctions.

According to the Kevin Telegraph, the stable price of Kevin Tetra against the Russian ruble has increased by 30% in just 5 days; An event that somehow reflects the immediate and negative impact of the war between Russia and Ukraine on the traditional financial system.

Bainance’s digital currency exchange data shows that the Russian ruble is under inflationary pressure, and the price of the Tetra / Ruble currency market has crossed 105 units for the first time in history.

Price presentation of the pair for trading Tetra / ruble
Fluctuations in Tetra / Ruble market prices.

Prior to the jump, the Tetra / ruble pair had a relatively stable price performance below 80. However, with the start of the Russia-Ukraine war, the price of Tetra against the Russian national currency rose on Thursday, currently exceeding 90 rubles per tetra.

As tensions escalate, the European Commission announced on Sunday plans to remove Russian banks from the global financial system SWIFT.

European Commission President Ursula von der Leyen said yesterday:

First, we need to make sure that some Russian banks have been removed from Swift. This will stop their global activities and hinder their exports and imports. In the second step, we freeze the assets of the Central Bank of Russia. This will prevent them from making deals and will also make it impossible to liquidate assets.

At the same time, the Russian ruble depreciated and inflation reduced the purchasing power of its holders by up to 30 percent.

Russia’s central bank also doubled its bank interest rate from 9.5% to 20% on Monday as an immediate countermeasure against rising inflation in the national currency.

Russia’s central bank said in a statement:

The increase in interest rates guarantees an increase in the interest rate on deposits to the levels needed to compensate for rising inflation and the devaluation of the ruble. This is necessary to support financial stability and prices, as well as to protect citizens’ savings against the devaluation of the national currency.

The government has also asked Russian companies to sell 80 percent of their foreign exchange earnings amid threats of a total international financial ban.

On the other hand, the volume of bitcoin and altcoin transactions in Ukrainian digital currency exchanges has increased by more than 200% amid growing concerns about the stability of the national currency.

The Ukrainian Kuna exchange, which traded for less than $ 1 million on February 21, has hosted a $ 4.1 million digital currency over the past three days. The National Bank of Ukraine has also imposed restrictions, such as setting a ceiling for withdrawals from banks and ATMs and restricting the purchase and withdrawal of foreign currency abroad.

The price record after Tetra against the Russian ruble; The work of Russian traders is becoming increasingly difficult, appeared the first of Digital Currency.

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