AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

MOSCOW: The Russian rouble firmed slightly on Thursday, remaining weaker than in late 2021, and stock indexes fell as downside pressure lingered over geopolitical concerns about Moscow's standoff with the West.

At 0729 GMT, the rouble was 0.2% stronger against the dollar at 74.60, heading towards levels of around 74 seen in late December.

Versus the euro, the rouble added 0.1% to 85.41.

Russian rouble eases from over 1-week high; traders focus on geopolitics, inflation

The rouble has been under pressure since October, as Western countries expressed concerns about Russia's military build-up near Ukraine. Moscow has said it can move its army within its territory as it deems necessary.

On Wednesday, NATO said it was willing to talk to Russia about arms control and missile deployments to avert the risk of war in Europe, but Moscow said the situation was "very dangerous" and the way forward was unclear.

The Russian finance ministry also added pressure on the rouble by increasing state purchases of foreign currency for the state coffers in the month ahead.

The finance ministry's increased FX purchases will limit the room for the rouble recovery, and the Russian currency is expected to firm only to 74 against the dollar by the end of the month, Sinara Investment Bank said in a note.

The rouble is expected to stay within a range of 74.5-75.0 against the dollar on Thursday, Promsvyazbank analysts said. Russian stock indexes were down, mirroring a 0.5% decline in Brent crude oil, a global benchmark for Russia's main export, to $84.26 a barrel.

The dollar-denominated RTS index shed 0.3% to 1,607.7 points. The rouble-based MOEX Russian index was 0.7% lower at 3,804.9 points.

Comments

Comments are closed.