AGL 5.27 Decreased By ▼ -0.13 (-2.41%)
ANL 8.75 Decreased By ▼ -0.04 (-0.46%)
AVN 76.62 Increased By ▲ 0.37 (0.49%)
BOP 5.22 Increased By ▲ 0.03 (0.58%)
CNERGY 4.44 Decreased By ▼ -0.04 (-0.89%)
EFERT 81.32 Increased By ▲ 0.22 (0.27%)
EPCL 49.39 Increased By ▲ 0.38 (0.78%)
FCCL 12.80 Increased By ▲ 0.10 (0.79%)
FFL 5.59 Decreased By ▼ -0.03 (-0.53%)
FLYNG 6.90 Decreased By ▼ -0.03 (-0.43%)
FNEL 4.67 Increased By ▲ 0.02 (0.43%)
GGGL 8.64 Increased By ▲ 0.04 (0.47%)
GGL 14.21 Increased By ▲ 0.06 (0.42%)
HUMNL 5.54 Increased By ▲ 0.05 (0.91%)
KEL 2.63 Increased By ▲ 0.04 (1.54%)
LOTCHEM 28.04 Increased By ▲ 0.33 (1.19%)
MLCF 24.05 Increased By ▲ 0.45 (1.91%)
OGDC 71.13 Decreased By ▼ -0.44 (-0.61%)
PAEL 15.34 Increased By ▲ 0.14 (0.92%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 16.08 Increased By ▲ 0.25 (1.58%)
SILK 1.13 Increased By ▲ 0.08 (7.62%)
TELE 9.07 Increased By ▲ 0.08 (0.89%)
TPL 7.09 Decreased By ▼ -0.07 (-0.98%)
TPLP 19.09 Decreased By ▼ -0.09 (-0.47%)
TREET 21.20 Increased By ▲ 0.06 (0.28%)
TRG 139.80 Increased By ▲ 3.30 (2.42%)
UNITY 16.77 Increased By ▲ 0.01 (0.06%)
WAVES 9.41 Increased By ▲ 0.26 (2.84%)
WTL 1.36 Decreased By ▼ -0.02 (-1.45%)
BR100 4,186 Increased By 30.5 (0.73%)
BR30 15,467 Increased By 131.3 (0.86%)
KSE100 41,819 Increased By 279.4 (0.67%)
KSE30 15,448 Increased By 82.9 (0.54%)
Follow us

The Russian rouble was up slightly against the US dollar on Tuesday, helped by rising oil prices, but weakened against the euro. At 0745 GMT, the rouble was up 0.10% against the dollar at 60.1025, and down 0.28% at 60.3125 versus the euro.

It was almost unchanged versus the yuan at 8.556.

“We note that the dynamics of trading, according to our estimates, despite the beginning of the key week before the payment of taxes by exporters, may partly be associated with a shortage of foreign exchange liquidity for a number of players,” said Egor Zhilnikov, an analyst at Russia’s Promsvyazbank.

Russian rouble firms to over 3-week high on eve of rate decision

Zhilnikov said that after the Russian central bank’s rate cut last week, the dollar overnight basis became negative, “which means that the exchange of dollars for roubles began to cost banks more than direct loans in roubles”.

Russia’s central bank lowered its key interest rate by 50 basis points to 7.5% on Friday. The rouble has been the world’s best-performing currency this year, buoyed by emergency capital controls rolled out by the central bank in a bid to halt a mass sell-off.

The rouble is set to gain support from a month-end tax period that usually sees Russia’s exporters convert their foreign currency earnings into roubles to pay to the treasury, the peak of which falls on Sept. 26.

Brent crude oil, a global benchmark for Russia’s main export, was up 0.39% at $92.36 a barrel. Russian stock indexes were down.

The dollar-denominated RTS index was down 1.26% to 1256.610 points.

The rouble-based MOEX Russian index was 1.4% lower at 2396.12 points.

Comments

Comments are closed.

Russian rouble up slightly amid dollar liquidity fears

Finance Minister Dar briefs President Alvi on country’s economic situation

Arshad Sharif murder case: Supreme Court orders formation of new JIT

Rupee registers marginal decline, settles at 224.16 against US dollar

President for improving Pakistan’s IT ecosystem to facilitate growth

ECP supports use of electronic voting machines: Chief Election Commissioner

China announces nationwide loosening of Covid restrictions

UNGA adopts Pakistan-piloted resolution to bolster UN’s relief system

Japan announces additional $38.9mn for flood victims

One killed as Bangladesh police fire at opposition rally

Oil dips, hits lowest since January as U.S. data fans fuel demand fears