AGL 8.30 Decreased By ▼ -0.03 (-0.36%)
ANL 10.95 Increased By ▲ 0.25 (2.34%)
AVN 79.70 Increased By ▲ 1.51 (1.93%)
BOP 5.75 Increased By ▲ 0.18 (3.23%)
CNERGY 5.64 Increased By ▲ 0.26 (4.83%)
EFERT 79.36 Increased By ▲ 0.71 (0.9%)
EPCL 67.48 Decreased By ▼ -0.31 (-0.46%)
FCCL 14.89 Increased By ▲ 0.39 (2.69%)
FFL 6.70 Increased By ▲ 0.10 (1.52%)
FLYNG 7.16 Increased By ▲ 0.13 (1.85%)
GGGL 11.60 Increased By ▲ 0.26 (2.29%)
GGL 17.51 Increased By ▲ 0.27 (1.57%)
GTECH 8.35 Increased By ▲ 0.05 (0.6%)
HUMNL 7.17 Increased By ▲ 0.11 (1.56%)
KEL 3.14 Increased By ▲ 0.06 (1.95%)
LOTCHEM 35.20 Increased By ▲ 2.33 (7.09%)
MLCF 28.35 Increased By ▲ 0.05 (0.18%)
OGDC 87.70 Increased By ▲ 3.15 (3.73%)
PAEL 16.63 Increased By ▲ 0.18 (1.09%)
PIBTL 6.05 Increased By ▲ 0.20 (3.42%)
PRL 19.46 Increased By ▲ 1.34 (7.4%)
SILK 1.14 No Change ▼ 0.00 (0%)
TELE 11.41 Increased By ▲ 0.31 (2.79%)
TPL 9.20 Increased By ▲ 0.20 (2.22%)
TPLP 20.25 Increased By ▲ 0.37 (1.86%)
TREET 27.10 Increased By ▲ 0.48 (1.8%)
TRG 96.20 Increased By ▲ 1.70 (1.8%)
UNITY 20.85 Increased By ▲ 0.48 (2.36%)
WAVES 13.90 Increased By ▲ 0.27 (1.98%)
WTL 1.34 Increased By ▲ 0.03 (2.29%)
BR100 4,275 Increased By 67 (1.59%)
BR30 15,794 Increased By 348.3 (2.26%)
KSE100 42,872 Increased By 628.4 (1.49%)
KSE30 16,219 Increased By 247.6 (1.55%)

MOSCOW: The Russian rouble stabilised within a range of 83-84 to the dollar in Moscow trade on Tuesday, while stock indexes inched down after four straight days of gains amid the continuation of what Russia calls a “special military operation” in Ukraine.

The rouble has lost steam in recent days after recovering sharply from record lows thanks to an artificial boost from capital controls and to President Vladimir Putin’s demand that European consumers of Russian natural gas pay for it in roubles.

Negotiations between Moscow and Kyiv remain in focus after Russia sent tens of thousands of troops to Ukraine on Feb. 24.

At 0729 GMT, the rouble was 0.3% stronger against the dollar at 83.73, moving towards its strongest level since Feb. 23 of 80.3325 hit on Friday.

Against the euro, the rouble gained 0.9% to 91.82 , moving further away from an all-time low of nearly 132.42 it reached in Moscow trade on March 10.

The once free-floating rouble has been steered by capital controls since late February. It has shrugged off reports about new western sanctions against Russia but analysts warned that its recovery could be temporary.

The Russian currency could lean towards 85 to the dollar without increased selling of foreign currency by export-focused companies, Promsvyazbank analysts said in a note.

The market was also scrutinising Russia’s ability to continue servicing its foreign debt. The United States stopped the Russian government from paying holders of its sovereign debt more than $600 million from reserves held at American banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of US dollars.

In the stock market, volatility has declined as some blue chips fell after days of rapid gains since the market reopened in late March following a near month-long hiatus. The dollar-denominated RTS index shed 1.5% to 1,035.4 points. The rouble-based MOEX Russian index was up 1.1% lower at 2,757.2 points after hitting its highest level since Feb. 22 of 2,835.46 on Monday.

Comments

Comments are closed.