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Russian rouble recovers from five-month low against dollar

(Reuters) - The Russian rouble pared losses after tumbling to its weakest against the U.S. dollar in more than five months on Thursday on fresh pressure from the West's price cap...
Russian rouble recovers from five-month low against dollar © Reuters. FILE PHOTO: A picture illustration shows rolled Russian rouble banknotes on a table in Warsaw, Poland, January 22, 2016. REUTERS/Kacper Pempel//File Photo
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(Reuters) - The Russian rouble pared losses after tumbling to its weakest against the U.S. dollar in more than five months on Thursday on fresh pressure from the West's price cap on Russia's oil exports.

The rouble fell to 64.95 against the U.S. dollar in morning trade in Moscow for its lowest reading since July 6, before recouping. By 0945 GMT, the rouble was trading down 0.2% for the session at 64.10.

Against the euro, the rouble hit an 11-week low before recovering to stand up 0.1% at 68.25, while the currency was flat against the Chinese yuan at 9.17.

After crashing to historic lows when Moscow sent tens of thousands of troops into Ukraine on Feb. 24 and the West imposed sweeping sanctions on Russia, strict capital controls have helped the rouble to rebound strongly over the summer.

However, fears of a global recession combined with the European Union's embargo on Russian oil exports and a Western price cap have heaped pressure on the Russian currency.

Recent weakness in the rouble comes even as prices for benchmark crude oil have recovered above $80 a barrel after hitting their lowest for the year last week.

Analysts said a fall in foreign currency earnings by Russian exporters - who are required to convert at least half of their foreign earnings into roubles - was weighing on the currency.

Russian stock indexes were down on Thursday.

The dollar-denominated RTS index lost 1% to stand at 1,049.7 points, while the rouble-based MOEX Russian index was also down 1% at 2,137.3 points.

Also in focus was an upcoming central bank meeting tomorrow. The regulator is expected to hold interest rates at 7.5% in its final rate-setting decision of the year.

For Russian equities guide see

For Russian treasury bonds see

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

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USD/CAD

1.3780

+0.0003 (+0.03%)

Summary

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Moving Avg:

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

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Silver Futures

26.677

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

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Brent Oil Futures

85.62

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213.73

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S&P 500

5,035.69

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17,921.95

-196.37 (-1.08%)

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FTSE 100

8,144.13

-2.90 (-0.04%)

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17,763.03

+16.12 (+0.09%)

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Sell (6)

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1,973.05

-42.98 (-2.13%)

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Sell (7)

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10,854.40

-246.40 (-2.22%)

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Neutral

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49.155

+0.100 (+0.20%)

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27.35

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266.60

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Adidas AG

226.40

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Deutsche Lufthansa AG

6.714

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Summary

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Siemens AG Class N

175.90

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15.010

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Summary

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Moving Avg:

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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