Russian rouble eases as oil prices, risk appetite slip
- Brent crude oil, a global benchmark for Russia's main export, was down 1.8% at $69.29 a barrel
MOSCOW: The Russian rouble weakened on Monday, hampered by lower oil prices and a surprisingly sharp slowdown in some of China's key economic indicators, which reduced risk appetite.
At 0718 GMT, the rouble was 0.2% weaker against the dollar at 73.32, moving away from the one-week high of 73.16 hit on Friday. It lost 0.1% to trade at 86.48 versus the euro.
Figures on China's July retail sales, industrial production and urban investment all missed forecasts, trends that are only likely to get worse given the recent tightening in coronavirus restrictions there.
Russian rouble eases after overnight jump, stocks inch higher
Brent crude oil, a global benchmark for Russia's main export, was down 1.8% at $69.29 a barrel.
Lower oil prices and a possible market correction after the rouble's gains late last week could push the Russian currency slightly lower on Monday, said Promsvyazbank analysts in a note.
"We do not expect strong volatility on currency markets today," they added.
Russian stock indexes were falling.
The dollar-denominated RTS index was down 0.4% at 1,659.5 points.
The rouble-based MOEX Russian index was 0.2% lower at 3,863.8 points.
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