MOSCOW: The Russian rouble weakened past 100 to the dollar to a more than seven-week low as President Vladimir Putin spoke on Thursday, hurt by reduced foreign currency supply from exporters early in the month.
Steady earlier in the session, the rouble’s slide came as Putin began a speech in Sochi, saying that the United States was seeking to impose its crumbling hegemony across the world and that the war in Ukraine showed how far the West had lost touch with reality.
By 1535 GMT, the rouble was 0.7% weaker against the dollar at 100.30, its weakest point since Aug. 14.
It had lost 0.9% to trade at 105.66 versus the euro and shed 0.5% against the yuan to 13.70 .
The rouble has lost support of a favourable month-end tax period that usually sees exporters convert FX revenues to meet local liabilities.
Brent crude oil, a global benchmark for Russia’s main export, was down 1.9% at $84.21 a barrel, a more than five-week low, extending the previous session’s sharp slump.
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