Rouble hits lowest level against dollar since late May
- Oil prices reversed earlier gains as a resurgence of cases of the novel coronavirus sparked concerns that fuel demand growth could stall.
- Brent crude oil, a global benchmark for Russia's main export, was down 1.2% at $42.62 a barrel by 1300 GMT.
MOSCOW: The Russian rouble fell on Friday to its lowest level against the dollar since May 25, dragged down by falling oil prices in thin trade, with US markets on holiday.
After remaining steady in early trading, the rouble fell just over 1% to 71.61 to the dollar. It also hit a seven-week low against the euro, losing 0.9% to trade at 80.31 .
Oil prices reversed earlier gains as a resurgence of cases of the novel coronavirus sparked concerns that fuel demand growth could stall.
Brent crude oil, a global benchmark for Russia's main export, was down 1.2% at $42.62 a barrel by 1300 GMT.
Expectations that Russia's finance ministry will ease its selling of foreign currency in July has also contributed to rouble weakness. The ministry is set to announce its selling plan for the month ahead on Monday at 0900 GMT.
Russian stock indexes were mixed.
The dollar-denominated RTS index was down 0.9% to 1,236.8 points. The rouble-based MOEX Russian index was 0.3% higher at 2,798.4 points.
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