MOSCOW: The Russian rouble fell sharply past 92 to the dollar on Thursday to trade at its weakest in two weeks, unable to latch onto support from upcoming month-end corporate taxes.
By 1307 GMT, the rouble was 1.3% weaker against the dollar at 92.11, earlier hitting 92.8025, its weakest point since Dec. 7.
It had lost 1.8% to trade at 101.45 versus the euro , a more than two-month low, and shed 1% against the yuan to 12.87.
Next week’s tax period that usually sees exporters convert foreign currency revenues to pay local liabilities should boost the rouble, as does the relative recovery in oil prices, said Alor Broker’s Alexei Antonov.
“However, the impression is forming that most major exporters have already accumulated the bulk of roubles for tax payments,” he added, expecting the rouble to weaken towards the end of the year.
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