👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

Russian rouble hits one-week low vs dollar after deadly Moscow attack

Published 25/03/2024, 06:39 pm
© Reuters. FILE PHOTO: A view shows U.S. one-dollar and Russian 100-rouble banknotes in this illustration picture taken August 14, 2023. REUTERS/Shamil Zhumatov/Illustration/File Photo
LCO
-

MOSCOW (Reuters) - The rouble hit a one-week low past 93 to the dollar on Monday as the Russian market reopened after a deadly shooting rampage near Moscow on Friday evening, with the Russian currency supported by high oil prices and month-end tax payments.

Russia lowered flags to half-mast for a day of mourning and charged four men it accused of gunning down scores of people at a concert outside Moscow on Friday night in the deadliest attack inside Russia for two decades.

At 0730 GMT, the rouble was unchanged against the dollar at 92.81, having dipped to a one-week low in early trade. It had lost 0.1% to trade at 100.36 versus the euro and shed 0.3% against the yuan to 12.78.

Investors were also reacting to Friday's interest rate hold at 16%. The Bank of Russia warned that inflationary pressure remained high and that tight monetary conditions would be maintained for a long time to try to return inflation to the bank's 4% target.

Brent crude oil, a global benchmark for Russia's main export, was up 0.4% at $85.76 a barrel.

The rouble should also be supported this week by month-end taxes that usually see exporters convert foreign currency revenues to pay local liabilities.

Russian stock indexes were lower.

The dollar-denominated RTS index was down 0.5% to 1,107.0 points. The rouble-based MOEX Russian index was 0.4% lower at 3,259.5 points.

© Reuters. FILE PHOTO: A view shows U.S. one-dollar and Russian 100-rouble banknotes in this illustration picture taken August 14, 2023. REUTERS/Shamil Zhumatov/Illustration/File Photo

For Russian equities guide see

For Russian treasury bonds see

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.