MOSCOW: Moscow's Stock Exchange reopened on Thursday after plunging almost 14 percent, hours after President Vladimir Putin announced a military offensive on Ukraine.

The ruble-dominated Moex index was down 13.97 percent, according to the exchange's website, while the dollar-dominated RTS was down 20.16 percent. The exchange announced a temporary suspension of trading earlier on Thursday.

Putin authorises 'special military operations' in Ukraine, demands Kyiv forces surrender

The ruble meanwhile fell by nine percent to 90 against the US dollar, hitting an all-time low before bouncing back slightly.