Rouble at 9-month low, pressured by Kazakh unrest

06 Jan, 2022

MOSCOW: Russia's rouble touched a nine-month low against the dollar on Thursday and stock markets fell in holiday-thinned trade, dragged down by unrest in neighbouring Kazakhstan and weaker oil prices.

Kazakhstan is experiencing its worst unrest since independence in 1991, spurred initially by protests against gas price hikes.

On Thursday, Russia sent paratroopers there as part of an international peacekeeping force.

At 0847 GMT, the rouble was down 0.2% against the dollar at 76.97, having earlier touched a low of 77.34. Against the euro, it lost 0.3% to trade at 87.10, just off an earlier low of 87.5.

The rouble has been under pressure since October, as Western countries expressed concerns about Russia's military build-up near Ukraine. Moscow has said it can move its army within its territory as it deems necessary.

Brent crude oil, a global benchmark for Russia's main export, was down 0.4% at $80.5 a barrel.The dollar-denominated RTS equity index was down 3.6% to 1,528.2 points.

The rouble-based MOEX Russian index was 2.2% lower at 3,732.6 points.

Trading activity will stay low until Jan. 10, the end of Russia's New Year holidays.

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