MOSCOW: Russia’s rouble on Monday fell past the 81 mark to the dollar for the first time since May 12, reacting to a hefty interest rate cut last week and US President Donald Trump shortening his deadline for Moscow to agree a ceasefire with Kyiv.
Russian stocks also fell as Trump set a new deadline of 10 or 12 days for Russia to make progress toward ending the war in Ukraine or face consequences, underscoring frustration with Russian President Vladimir Putin.
Friday’s 200-basis-point rate cut to 18% was the biggest in borrowing costs since May 2022, with the central bank hoping to revive lending and boost flagging economic growth after stubbornly high inflation showed signs of easing.
The rouble was down 2.1% as of 1513 GMT at 81.0955 per US dollar, according to data compiled by LSEG based on over-the-counter quotes.
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