6 June — 7 June
Ruble reaches 5-year low against dollar in early Moscow Exchange trading
February 19, 2014
The ruble slid against the dollar, which rose to a five-year high against the Russian currency early on in Moscow Exchange trading on Wednesday.
The ruble slid against the dollar, which rose to a five-year high against the Russian currency early on in Moscow Exchange trading on Wednesday.
This was possibly in reaction to yesterday's news that the Finance Ministry plans to buy a lot of foreign currency for ultimate transfer to the Reserve Fund.
At 10:13 a.m. Moscow time, the dollar was at 35.588 rubles/$1, or 17.5 kopecks up on Tuesday close. The euro was at 48.92 rubles/EUR1, up 12 kopecks. The bicurrency basket ($0.55 and EUR 0.45) had risen 15 kopecks to 41.59 rubles.
Read more experts opinion on this topic: Russian ruble reaches 5-year low
On Wednesday morning, the ruble slid to a five-year low against the dollar on trading in the Moscow Exchange. Experts have tried to reassure investors arguing, that the ruble will gain ground soon. Read more>>>
Cheaper ruble buoys Russian energy companies
In recent weeks, the Russian currency has fallen against the dollar while the price of oil has remained stable. This atypical situation has benefitted Russian energy companies – and the state treasury. Read more>>>