The Russian rouble fell past the psychologically key 100 per U.S. dollar threshold for the first time since March last year on Monday.
FILE PHOTO: Russian rouble and U.S. dollar banknotes are seen in this illustration photo taken March 10, 2023.
MICHAEL WANG, DEPUTY PORTFOLIO MANAGER, MIRABAUD ASSET MANAGEMENT“The rouble has been underperforming all this year, partly on lower oil revenues but also because of capital flight.
“The rouble remains under the selling pressure in the current global environment dominated by concerns about China, which is Russia’s most important trading partner.”“The sharp fall in Russia’s current account surplus leaves the rouble more vulnerable to global sentiment.
The CBR (Russian central bank) may have to raise interest rates further to cool down domestic demand and slow down imports to stabilize the rouble.”
Persons:
Dado Ruvic, Vladimir Putin’s, MICHAEL WANG, TIMOTHY ASH, Nabiullina, ”, PIOTR MATYS
Organizations:
REUTERS, CBR
Locations:
Russian, Russia, POLAND, China, Russia’s