AVN 60.40 Increased By ▲ 0.25 (0.42%)
BOP 10.11 No Change ▼ 0.00 (0%)
CHCC 130.25 Increased By ▲ 0.19 (0.15%)
DCL 9.57 Increased By ▲ 0.01 (0.1%)
DGKC 105.66 Increased By ▲ 0.13 (0.12%)
EFERT 67.80 Increased By ▲ 0.10 (0.15%)
EPCL 30.73 Increased By ▲ 0.08 (0.26%)
FCCL 21.30 Decreased By ▼ -0.02 (-0.09%)
FFL 13.25 Decreased By ▼ -0.04 (-0.3%)
HASCOL 14.36 Decreased By ▼ -0.01 (-0.07%)
HBL 125.35 No Change ▼ 0.00 (0%)
HUBC 80.50 Increased By ▲ 0.35 (0.44%)
HUMNL 8.79 Decreased By ▼ -0.01 (-0.11%)
JSCL 17.25 Increased By ▲ 0.05 (0.29%)
KAPCO 25.46 Increased By ▲ 0.06 (0.24%)
KEL 3.77 Increased By ▲ 0.01 (0.27%)
LOTCHEM 12.93 Decreased By ▼ -0.02 (-0.15%)
MLCF 35.54 Increased By ▲ 0.09 (0.25%)
OGDC 112.77 Increased By ▲ 0.12 (0.11%)
PAEL 34.74 Increased By ▲ 0.10 (0.29%)
PIBTL 11.93 Increased By ▲ 0.04 (0.34%)
PIOC 87.47 Increased By ▲ 0.36 (0.41%)
POWER 9.40 Increased By ▲ 0.04 (0.43%)
PPL 99.45 Decreased By ▼ -0.05 (-0.05%)
PSO 182.80 Increased By ▲ 0.10 (0.05%)
SNGP 55.08 Increased By ▲ 0.08 (0.15%)
STPL 11.85 Decreased By ▼ -0.05 (-0.42%)
TRG 50.35 Increased By ▲ 0.05 (0.1%)
UNITY 13.35 Decreased By ▼ -0.10 (-0.74%)
WTL 1.39 Increased By ▲ 0.03 (2.21%)
BR100 4,146 Decreased By ▼ -14 (-0.34%)
BR30 21,193 Decreased By ▼ -110 (-0.52%)
KSE100 39,915 Decreased By ▼ -115 (-0.29%)
KSE30 17,262 Decreased By ▼ -35 (-0.2%)
COVID-19 TOTAL DAILY
CASES 284,660 0
DEATHS 6,097 0
Sindh 123,849 Cases
Punjab 94,477 Cases
Balochistan 11,906 Cases
Islamabad 15,261 Cases
KP 34,692 Cases
Markets

Rouble keeps recovering despite U.S.-China trade row

MOSCOW: The Russian rouble gained against the dollar on Monday despite a  decline in the oil prices, after new tariffs i

02 Sep 2019

MOSCOW: The Russian rouble gained against the dollar on Monday despite a  decline in the oil prices, after new tariffs imposed by the Washington and Beijing came into force.

At 0720 GMT, the rouble was 0.2% stronger against the dollar at 66.63, up from a six-month low of 67.11 touched in August. It gained 0.2% against the euro to trade at 73.19.

This week, investors will watch the Russian central bank that will hold its monetary policy meeting on Friday. The bank is widely expected to trim its key interest rate, now at 7.25%.

Looking further, the rouble has room to recover this month after a steep fall in August, analysts said.

"Our USD/RUB model suggests that the rouble's reaction to the weakening of global risk-sentiment in August was excessive," VTB Capital said in a note.

Analysts from Freedom Finance brokerage expect the rouble to trade in a range of 66.20 to 67.25 against the dollar in the near future.

The global market continued to focus on the trade war between the United States and China. Washington began imposing 15% tariffs on a variety of Chinese goods on Sunday, putting pressure on prices for oil, Russia's main export.

Brent crude oil was down 0.15% at $59.16 a barrel.

Russian stock indexes were mixed. The dollar-denominated RTS index was up 0.1% to 1,294 points. The rouble-based MOEX Russian index was 0.1% lower at 2,738 points.

Copyright Reuters, 2019