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russian forex market

Rouble weakens as Russia readies to step up state FX interventions

Rouble weakens as Russia readies to step up state FX interventions

Published 05 Jul, 2021 07:59pm
  • Rouble was 0.4% weaker against the dollar at 73.51 and shed 0.3% to 87.19 versus the euro .
  • The rouble is set to face more downside pressure from the finance ministry that will increase its daily buying of foreign currency for state coffers in July.
Rouble returns to 73 vs dollar, pares sanction-driven losses

Rouble returns to 73 vs dollar, pares sanction-driven losses

Updated 21 Jun, 2021 08:10pm
  • The rouble headed away from 73.3450 against the dollar, its weakest level since June 4, but was still down 0.2% on the day at 72.97.
  • "We do not rule out that more sanctions could inflate the risk premium ... bringing the rouble-dollar rate back to 74-75," Sova Capital said.
Russian rouble firms past 75 vs dollar, stocks climb

Russian rouble firms past 75 vs dollar, stocks climb

Published 04 May, 2021 05:11pm
  • Rouble gained 0.4% to 74.88 against the dollar after a three-day weekend, heading towards its strongest level since March 22 of 74.19 touched last week.
  • The rouble is seen returning to the 74-75 range against the dollar this week, Locko Invest said in a note.
Rouble hits more than 1-month high after Russia hikes rates

Rouble hits more than 1-month high after Russia hikes rates

Published 23 Apr, 2021 07:50pm
  • The central bank, which had been widely expected to raise rates to rein in high inflation due to the rouble's weakness, hiked it by a bigger-than-expected 50 basis points to 5%.
  • "It creates room for the undervalued rouble to rebound as heightened geopolitical risks are pared back in the near-term," said MUFG Bank in a note.
Russian rouble hits more than 1-month high after central bank hikes rates

Russian rouble hits more than 1-month high after central bank hikes rates

Published 23 Apr, 2021 05:31pm
  • The central bank, which had been widely expected to raise interest rates to rein in high inflation due to the rouble's weakness, hiked by a bigger than expected 50 basis points to 5%.
  • Against the euro, the rouble gained 0.3% to 90.37 , nearing a more than two-week high.
Russian rouble pares losses as geopolitical risks linger

Russian rouble pares losses as geopolitical risks linger

Published 12 Apr, 2021 05:47pm
  • Rouble was 0.4% stronger against the dollar at 77.09, moving away from its weakest level since Nov. 5 of 78.0450, which it touched last week.
  • The rouble decoupled recently from moves in other emerging markets as well as the price of crude oil, Russia's key export, as it was hammered by fears about the situation in Ukraine.
Rouble steadies after taking a hit from geopolitical concerns

Rouble steadies after taking a hit from geopolitical concerns

Updated 06 Apr, 2021 07:29pm
  • Rouble was little changed on the day at 76.37 against the dollar after falling to 76.74 on Monday, its weakest since March 24.
  • "We think the rouble will likely remain near current levels until some sort of clarity emerges on the geopolitical front," Sberbank CIB said in a note.
Jittery oil prices limit rouble gains after surprise rate rise

Jittery oil prices limit rouble gains after surprise rate rise

Published 19 Mar, 2021 08:48pm
  • The rouble has suffered this week since US President Joe Biden said his Russian counterpart Vladimir Putin would "pay a price" for alleged meddling in the 2020 US election.
  • A surprise 25 basis point rate rise by the central bank and the promise of more to come briefly boosted the rouble before oil prices turned negative, adding to pressure on Russian assets.
Rouble weakens after Biden comments on Putin

Rouble weakens after Biden comments on Putin

Published 17 Mar, 2021 05:22pm
  • Russia's Eurobonds fell after Biden's comments and the rouble extended losses that it posted after new US allegations that Putin was likely to have directed efforts to try to influence the 2020 US election.
  • Against the euro the rouble weakened 1.4% to 87.89 , heading away from the 86.5150 hit in the previous session, its strongest since mid-August.
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