The Russian rouble sank to a two-month low against the dollar on Wednesday, coming within a whisker of the 64 mark, hurt by sanctions on Russian oil and ahead of three OFZ treasury bond auctions by the finance ministry.
At 0740 GMT, the rouble was 0.6% weaker against the dollar at 63.25, earlier hitting 63.9250, its weakest point since Oct. 14.
It had lost 0.2% to trade at 67.14 versus the euro and weakened 0.5% against the yuan, trading at 9.09.
“The Russian currency, in anticipation of the announcement of new sanctions, is continuing to post local lows,” said Veles Capital analyst Elena Kozhukhova.
Relatively low oil prices and risks of lower export revenues in the light of the $60-a-barrel price cap on Russian oil imposed by the G7, the European Union and Australia, have put pressure on the rouble.
Brent crude oil, a global benchmark for Russia’s main export, was down 0.2% at $80.5 a barrel, having last week hit its lowest level this year.
Investors are also monitoring the Bank of Russia, which is expected to hold its key interest rate at 7.5% on Friday, as inflation continues to slow and to assess the possible economic impact of the oil price cap and embargo, a Reuters poll found.
Russian rouble slides to over 6-month low vs euro
The finance ministry will tap local debt markets once more on Wednesday, issuing three OFZ bonds as it borrows heavily to help finance its military campaign in Ukraine.
Russian stock indexes were up lower.
The dollar-denominated RTS index was down 1.3% to 1,075.3 points.
The rouble-based MOEX Russian index was 0.7% lower at 2,159.6 points.
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