Ruble spikes after Putin's annual Q&A session

Recently, the Russian currency has been rapidly falling. First of all, the ruble is depressed by geopolitical tensions. The political crisis in Ukraine and the Russian Federation's position on this serious conflict do not bolster the exchange rate of the ruble. The national currency is losing ground amid the unpredictable situation and threat of new sanctions. That is why, due to the lack of information, the call-in show with Vladimir Putin gained increasing attention of the world community. The President's performance exerted positive influence on the Russian unit. The domestic currency market participants could see the ruble growing by 10 kopecks against the U.S. dollar-euro basket during the first minutes of the event. The market demonstrated an optimistic reaction on the statements of the president. One of the major questions was the presence of the Russian army in eastern Ukraine. “There are no Russian troops in the east of Ukraine,” Vladimir Putin said. The sanctions were also discussed during the show. Vladimir Putin emphasized that Russia is ready for any developments. The leader's confidence strengthened the ruble. At the Moscow exchange, the greenback fell by 10 kopecks to 35.89 rubles. The euro lost 1 kopeck, decreasing to 49.71 rubles. The Russian currency market showed a strong response to the annual Q&A session. The bi-currency basket sank by 6 kopecks compared with the previous closing level and sat at 42.11 rubles. At the beginning of the president's appearance, the basket ticked down to 42.08 rubles.