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 >
Tech Rally Subsides as US Equity Futures Waver Pre-Bell
Tech Rally Subsides as US Equity Futures Waver Pre-Bell
Apr 29, 2024
09:01 AM EDT, 04/29/2024 (MT Newswires) -- US equity futures were cautiously higher before Monday's opening bell, stabilizing after last week's rally fueled by upbeat earnings from the technology sector. Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures increased 0.2%, and Nasdaq futures were 0.4% higher. Shares of software company Microsoft ( MSFT ) and Google (...
Sector Update: Tech Stocks Steady Premarket Monday
Sector Update: Tech Stocks Steady Premarket Monday
Apr 29, 2024
09:00 AM EDT, 04/29/2024 (MT Newswires) -- Technology stocks were steady premarket Monday as the SPDR S&P Semiconductor ETF ( XSD ) and Technology Select Sector SPDR Fund ( XLK ) were both inactive recently. Apple's ( AAPL ) operating system for iPads is now designated as a gatekeeper under the EU's Digital Markets Act, the European Commission said. The...
Sector Update: Financial Stocks Advance Premarket Monday
Sector Update: Financial Stocks Advance Premarket Monday
Apr 29, 2024
09:10 AM EDT, 04/29/2024 (MT Newswires) -- Financial stocks were advancing premarket Monday as the Financial Select Sector SPDR Fund ( XLF ) was 0.1% higher recently. The Direxion Daily Financial Bull 3X Shares ( FAS ) was 0.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was down 0.1%. UMB Financial ( UMBF...
Sector Update: Health Care Stocks Flat to Higher Pre-Bell Monday
Sector Update: Health Care Stocks Flat to Higher Pre-Bell Monday
Apr 29, 2024
09:02 AM EDT, 04/29/2024 (MT Newswires) -- Health care stocks were flat to higher pre-bell Monday with the iShares Biotechnology ETF ( IBB ) recently up 0.2% and the Health Care Select Sector SPDR Fund ( XLV ) unchanged. Deciphera Pharmaceuticals ( DCPH ) was rallying past 71% after saying it has entered into a definitive merger agreement with ONO...
Copyright 2023-2025 - www.financetom.com All Rights Reserved