Russian ruble plunges ahead of Putin's decision on Donbas

USDRUB currency pair fell over 3.0% during today's session as risk aversion increases. Markets await final decision whether Russia will officially recognize independence of breakaway republics. Throughout the security meeting with Putin, he was repeatedly urged by nearly all of his advisors and cabinets to recognize Donbas.

Most likely president Putin will declare his decision on live on Russian TV in a national address today. Many experts believes, that Luhansk and Donetsk will be recognized as independent. Meanwhile Ukraine government is asking for an urgent meeting of the UN Security Council (which of course includes Russia). Further news regarding this matter may cause increased volatility on markets, so it is worth watching the headlines. The most important will be definitely the response from Kiev and Western countries to Putin's decisions.

USDRUB broke above local resistance at 77.85 which coincides with 23.6% Fibonacci retracement of the upward wave launched at the beginning of 2020. The pair is currently heading towards psychological resistance at 80.00, which is marked with upper limit of the 1:1 structure. Source: xStation5

8 May 2026, 4:55 PM

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