Markets

Russian rouble weakens sharply after S&P downgrade

Published January 26, 2015 Updated January 26, 2015 08:54pm

1 min

By Shoaib Ur Rehman

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MOSCOW: Russia's rouble weakened sharply late on Monday to trade around 5 percent lower against the US dollar after ratings agency S&P downgraded Russia's sovereign credit rating to below investment grade.

The rouble was trading at 67.56 at 1824 GMT, around 5 percent weaker than the previous close on the Moscow Exchange.

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