Russia will resume ruble trading, but will continue to suspend stock market trading to protect domestic investors from severe sanctions.

The Russian central bank said in a statement that the Moscow Stock Exchange will remain closed on Wednesday. Russian stock market has been closed since February 28th, which is the longest time in its modern history. Foreign exchange trading will resume on Wednesday.

The ruble is traded 24 hours in the inter-bank market and the Moscow Stock Exchange.

Usually, the inter-bank quotations of rubles around the world will reflect the transaction price in Moscow market, but the conflict between Russia and Ukraine has led to the differentiation of these two quotations. On February 28th, the ruble once fell by about 30% in the offshore market, the biggest drop in history. As of the evening of the same day, the offshore decline of the ruble was 6 percentage points more than the onshore decline.