Rouble recovers from six-month low on hopes of trade war easing

20 Aug, 2019

At 0740 GMT, the rouble was 0.3% stronger at 66.70 to the dollar, having weakened to 67.03 on Monday, its lowest since February. The rouble gained 0.3% to trade at 73.85 against the euro.

Prices for oil, Russia's main export, edged up on Tuesday on hopes that U.S.-China trade tensions will ease and major economies will take stimulus measures to ward off a potential economic slowdown that could hit oil demand.

Brent crude oil was trading at $59.75 a barrel.

Emerging currencies were also buttressed by the U.S. decision to grant China's Huawei Technologies another 90 days to buy from American suppliers.

The dollar-denominated RTS index was up 0.9% to 1,258 points. The rouble-based MOEX Russian index was 0.5% higher at 2,662 points.

Copyright Reuters, 2019

Read Comments