Russian rouble slides

MOSCOW: The Russian rouble fell to a more than one-month low past 93 to the dollar on Wednesday, under pressure from exporters’ reduced foreign currency sales at the start of the month and citizens’ rising demand for FX ahead of Russia’s long New Year holidays.

At 0733 GMT, the rouble was 0.7% weaker against the dollar at 92.90, earlier hitting 93.04, its weakest point since Nov. 3.

It lost 0.3% to trade at 100.28 versus the euro and shed 0.8% against the yuan to 12.98.

The rouble has now lost support from the month-end tax period, for which Russian exporters usually convert foreign currency into roubles.