Rouble Falls as Russia Relaxes Capital Controls; Rosbank Shares Jump 40 Percent

Russian rouble coins in a photo illustration taken on March 25, 2021. Maxim Shemetov/Illustration/Reuters

The rouble weakened sharply on Monday, reversing some of the previous week’s gains, after Russia relaxed temporary capital control measures aimed at limiting a drop in the currency.

Shares in Rosbank, a Russian subsidiary of French bank Societe Generale, jumped 40 percent after SocGen said it would quit Russia and take a 3 billion euros ($3.3 billion) income hit from selling Rosbank to Interros Capital, a firm linked to Russian oligarch Vladimir Potanin.