financetom
Market
financetom
/
Market
/
Russian rouble climbs to over two-month high against US dollar
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Russian rouble climbs to over two-month high against US dollar
May 20, 2024 5:34 AM

MOSCOW, May 20 (Reuters) - The rouble climbed to a more

than two-month high against the dollar on Monday, supported by

the Russian state's increased foreign currency sales this month

and capital controls that prop up the Russian currency.

By 1146 GMT, the rouble was 0.4% higher at

90.55 to the dollar, earlier reaching 90.3875, its strongest

point since March 7.

Against the euro, the rouble gained 0.3% to

98.40 and gained 0.7% to 12.49 against the yuan

.

Capital controls introduced by presidential decree in

October 2023 require dozens of undisclosed exporting firms to

deposit a high percentage of foreign currency earnings with

Russian banks and then sell most of those proceeds on the

domestic market. The controls were extended by a year at the end

of April.

The state's overall forex sales were sharply increased to

6.3 billion roubles ($69.57 million) a day in May from 0.6

billion roubles a day in the previous month, further buttressing

the Russian currency.

Brent crude oil, a global benchmark for Russia's

main export, fell 0.2% to $83.79 a barrel.

Russian stock indexes were mixed. The dollar-denominated RTS

index rose 0.1% to 1,185.0. The rouble-based MOEX

Russian index fell 0.5% to 3,463.9.

($1 = 90.5550 roubles)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
GoldMining Up Near 1% in U.S. Premarket After Saying Discovered Gold and Copper Mineralization in Drilling 1 KM From Sao Jorge Deposit in Brazil
GoldMining Up Near 1% in U.S. Premarket After Saying Discovered Gold and Copper Mineralization in Drilling 1 KM From Sao Jorge Deposit in Brazil
Sep 9, 2024
07:36 AM EDT, 09/09/2024 (MT Newswires) -- GoldMining ( GLDG ) was at last look up near 1% in U.S. premarket on Monday as it reported final drill assay results from the diamond drilling program, and a progress update for the ongoing auger drilling program, at the company's 100% owned Sao Jorge Project in the Tapajos gold district in Para...
Sector Update: Tech
Sector Update: Tech
Sep 10, 2024
08:45 AM EDT, 09/09/2024 (MT Newswires) -- Technology stocks rose in premarket trading Monday, with the Technology Select Sector SPDR Fund (XLK) up 0.9% and the SPDR S&P Semiconductor ETF (XSD) 0.8% higher recently. Apple ( AAPL ) used Arm Holdings' ( ARM ) V9 chip design in the A18 chip of its iPhone 16 and is set to launch...
Steel Stocks Rebound: JPMorgan Lifts Ratings On Nucor, Steel Dynamics, US Steel
Steel Stocks Rebound: JPMorgan Lifts Ratings On Nucor, Steel Dynamics, US Steel
Sep 10, 2024
Following the pressure on shares of North America steel companies due to weakening fundamentals, they are now more attractively valued. North American steel equities are now better positioned, with a potential improvement in the rate environment ahead and a stable post-election backdrop in 2025, according to JPMorgan. Analyst Bill Peterson upgraded the ratings for: Nucor Corp ( NUE ) from...
Pembina Pipeline Says Pembina Gas Infrastructure Buying Midstream Assets in $400 Million Deal; Shares Slightly Down in U.S. Pre-Market
Pembina Pipeline Says Pembina Gas Infrastructure Buying Midstream Assets in $400 Million Deal; Shares Slightly Down in U.S. Pre-Market
Sep 9, 2024
07:55 AM EDT, 09/09/2024 (MT Newswires) -- Pembina Pipeline ( PBA ) said on Monday that its subsidiary Pembina Gas Infrastructure agreed to acquire Veren's ( VRN ) Gold Creek and Karr area oil batteries for $400 million. Pembina Pipeline's ( PBA ) share price slipped 0.5% at last look to US$40.26 on the NYSE following the news. Pembina Pipeline's...
Copyright 2023-2025 - www.financetom.com All Rights Reserved