Home Headlines Rouble eases from near 4-week high vs dollar, firms vs euro
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Rouble eases from near 4-week high vs dollar, firms vs euro

by jcp

MOSCOW (Reuters) -The Russian rouble pulled back from last week’s near four-week high against the dollar on Monday but held near its strongest levels this month, with a tax payment period looming that usually sees exporters convert forex revenues into roubles.

At 1358 GMT, the rouble was down 0.3% to 59.25 against the dollar, having hit 60.1150 earlier on Monday as it fell sharply from Friday’s 57.70 high.

“The backdrop for the rouble this week should be supportive,” Sberbank CIB said in a note, referring to the month-end tax payment period that usually prompts exporters to increase conversion of foreign currency to meet local duties.

But once the tax payment deadline passes, the rouble is seen weakening sharply, with Alor Broker saying it could drop as far as 65 against the dollar.

Against the euro, the rouble gained 0.9% to 59.05 – far from the record low of 132.42 it touched in March days after Moscow began what it calls a “special military operation” in Ukraine on Feb. 24.

The euro weakened against the dollar globally as natural gas prices surged, Sberbank CIB said.

Europe faces fresh disruption to energy supplies due to damage to a pipeline system that brings oil from Kazakhstan through Russia, the pipeline operator said on Monday, adding to concerns over a plunge in gas supplies.

Year-to-date, the rouble has become the world’s best-performing currency https://emea1.apps.cp.thomsonreuters.com/Apps/NewsServices/mediaProxy?apiKey=6d416f26-7b24-4f31-beb6-1b5aa0f3fafb&url=http%3A%2F%2Ffingfx.thomsonreuters.com%2Fgfx%2Frngs%2FGLOBAL-CURRENCIES-PERFORMANCE%2F0100301V041%2Findex.html as a result of capital controls that Russia has to impose to mitigate financial stability risks.

Rouble volatility has subsided after wild swings that saw it hit a record low of 121.53 to the dollar on the Moscow Exchange in March and then rally to a seven-year peak of 50.01 in June.

Russian stock indexes rose.

The dollar-denominated RTS index was up 0.6% at 1,177.7 points. The rouble-based MOEX Russian index was 0.9% higher at 2,215.5 points.

For Russian equities guide see

For Russian treasury bonds see

(Reporting by Alexander Marrow and Andrey Ostroukh; Editing by Kirsten Donovan and Mark Potter)

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More