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Russian rouble dips in Moscow, down near 25% over 4 weeks

Mount Equity Group Tokyo Japan > News > Markets > Russian rouble dips in Moscow, down near 25% over 4 weeks
  • Russian rouble swings in light trade in Moscow, rises for week
  • keeps rates at 20%, says it will buy OFZ bonds
  • Russia makes USD coupon payment in key post-sanctions test

March 18 (Reuters) – The Russian rouble fell in light trading in Moscow on Friday, with trading on separate exchanges stabilising beyond 100 to the dollar, after the central bank opted to hold rates at 20% and said it would start purchasing OFZ government bonds.

The central bank kept its key interest rate unchanged on Friday, in line with a Reuters poll of analysts, following an emergency rate hike in late February, but warned of higher inflation and an economic contraction this year, without giving new forecasts. read more

The central bank’s actions have come in support of an economy buckling under the stress of sanctions from across the globe, triggered by Russia’s invasion of Ukraine late last month.

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