MOSCOW, Nov 22 (Reuters) – The rouble fell past the 74 mark to a near three-month low against the dollar on Monday and Russian stocks sunk to their lowest since the start of September as lingering geopolitical risks hampered demand for Russian assets.

By 0915 GMT, the rouble, which had stabilised in early trade, was 0.9% weaker against the dollar at 74.13 , its weakest point since Aug. 27.

It had lost 0.7% to trade at 83.61 versus the euro .

Register now for FREE unlimited access to

The rouble is under strong pressure from sales of equities and OFZ treasury bonds, as well as the high volume of foreign currency purchases by the finance ministry this month, said Alor Broker chief analyst Alexei Antonov.

Russian media reported that state technology corporation Rosnano could face risk of default spooked foreign investors who were already withdrawing from OFZs and stocks, a dealer at a large Russian bank told Reuters after…

Read more…


Comments are closed.