AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,941 Increased By 63.6 (0.92%)
BR30 22,802 Increased By 233 (1.03%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Markets

Rouble up before US Fed meeting, Ukrainian hryvnia at three-year peak vs dollar

MOSCOW: The Russian rouble firmed on Wednesday ahead of an expected cut to interest rates by the US Federal Reserve
Published July 31, 2019

MOSCOW: The Russian rouble firmed on Wednesday ahead of an expected cut to interest rates by the US Federal Reserve for the first time in more than 10 years, while the Ukrainian hryvnia rallied to a thee-year high versus the US dollar.

Having been the best-performing currency for many weeks this year, the rouble has now been overtaken by the hryvnia. The Ukrainian currency has gained almost 11% this year, against a 10% rise in the rouble.

By 1145 GMT the rouble was up 0.1% against the dollar at 63.45 and was up 0.15% at 70.71 versus the euro .

The hryvnia was at 25.10 against the dollar, strengthening from around 27.45 in late 2018.

Demand for the hryvnia was boosted by investor optimism after the party of recently elected President Volodymyr Zelenskiy won parliamentary elections this month. The currency also gained support from high interest rates and demand for the country's public debt.

The dollar-denominated RTS index was up 0.5% at 1,359 points while the rouble-based MOEX Russian index firmed by 0.1% to 2,737 points.

Shares in Sberbank, Russia's top bank, were up 0.1% after it reported a 16.3% increase in second-quarter net profit.

Russian business conglomerate Sistema's shares advanced by 3.5% after real estate company Etalon Group said it was buying a 49% stake in Sistema's real estate development business, Leader Invest, for 14.6 billion rouble.

Copyright Reuters, 2019

Comments

Comments are closed.