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 reuters.com
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 the rouble dropped sharply on Monday.
Rosnano on Friday said it had discussed possible restructuring scenarios at a meeting with creditors and major bondholders.
Geopolitics is also frustrating the currency.
The rouble has come under selling pressure this month on Western concerns over possible Russian military intervention in Ukraine. But Moscow has dismissed such suggestions as inflammatory and complained about increasing activity in the region by the NATO military alliance. read more
"Russia is likely to remain out of favour as long as the political chest thumping and sabre rattling continues," said BCS Global Markets in a note.
Russia's risk measured by five-year credit default swaps that reflect the cost of insuring exposure to sovereign debt jumped last week to its highest since April 22 and remained elevated on Monday.
Brent crude oil , a global benchmark for Russia's main export, was up 0.4% at $79.24 a barrel.
Russian stock indexes were tumbling.
The dollar-denominated RTS index (.IRTS) was down 2.5% to 1,680.3 points, earlier hitting its lowest mark since Aug. 30.
The rouble-based MOEX Russian index (.IMOEX) was 1.6% lower at 3,954.1 points, dropping below the 4,000-point mark to its lowest since Sept. 1.
For Russian equities guide see
For Russian treasury bonds see
Register now for FREE unlimited access to reuters.com
Reporting by Alexander Marrow, additional reporting by Vladimir Abramov; Editing by Timothy Heritage and Ed Osmond
Our Standards: The Thomson Reuters Trust Principles.
"low" - Google News
November 22, 2021 at 04:33PM
https://ift.tt/3DKGUFO
Rouble drops to near 3-month low, Russian stocks sink amid geopolitical woes - Reuters
"low" - Google News
https://ift.tt/2z1WHDx
Bagikan Berita Ini
0 Response to "Rouble drops to near 3-month low, Russian stocks sink amid geopolitical woes - Reuters"
Post a Comment