JPMorgan puts end to ruble


January 25, Fineko/ JPMorgan, the largest investment bank in the U.S. by assets, has completely withdrawn from the Russian ruble.

ABC.AZ reports that JPMorgan, which manages $2.6 trillion, closed on Monday, January 24, all remaining positions in the Russian currency, citing unpredictable risks due to the build-up of Russian forces on the border with Ukraine.

Six months later, when the dollar jumped above 79 rubles, and the euro almost broke through the 90 mark, JPMorgan admitted that it was getting rid of investments in rubles at a loss.