The Russian rouble weakened on Monday, heading back towards the 92 mark against the dollar and not far from a more than 15-month low after a slump triggered by last month’s abortive armed mutiny.
Capital controls and shrinking imports have helped insulate the rouble against geopolitics during the more than 16 months since Russia invaded Ukraine, but mercenary leader Yevgeny Prigozhin’s aborted march towards Moscow on June 24 reverberated through markets and raised questions about President Vladimir Putin’s grip on power.
Russian rouble weakens back towards 90 vs dollar
At 0717 GMT, the rouble was 0.3% weaker against the dollar at 91.56, having hit 93.854 last week, its weakest point since March 28, 2022.
It was unchanged to trade at 100.33 versus the euro. It had firmed 0.2% against the yuan to 12.63.
Seeking to project an aura of calm, Russian authorities have blamed the rouble’s around 7% slump in the last few weeks on falling export revenues and recovering imports, but analysts acknowledge the impact of domestic political concerns and increased net capital outflows.
Brent crude oil, a global benchmark for Russia’s main export, was down 0.8% at $77.86 a barrel.
Russian stock indexes were higher.
The dollar-denominated RTS index was up 0.4% to 979.5 points. The rouble-based MOEX Russian index was 0.5% higher at 2,846.5 points.
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