June 30, 2023 7:11 PM GMT+7
June 30 (Reuters) -
The Russian rouble tumbled past 89 against the dollar for the first time in
more than 15 months on Friday, weighed down by domestic political risk concerns
after an aborted armed mutiny over the weekend, and lacking any support drivers.
By 1156 GMT, the
rouble was 1.8% weaker against the dollar at 89.15 after earlier hitting
89.3275, its weakest point since March 29, 2022.
It lost 1.8% to trade
at 96.74 versus the euro , also a 15-month low. It shed 1.4% against the yuan
to 12.23 <CNYRUBTOM=MCX>, a more than 14-month low.
"The rouble continues to crumble,"
Alor Broker said in a note. "It lost another 1.4% in value yesterday,
despite stabilising oil. The target for the dollar-rouble pair of 90 is
approaching and is likely to be reached."
https://graphics.reuters.com/RUSSIA-MARKETS/zdvxdmmgwvx/chart.jpg
Rouble
sinks to over 15-month low
Capital controls have
helped insulate the rouble against geopolitics in the 16 months since Russia
invaded Ukraine, but mercenary leader Yevgeny Prigozhin's aborted weekend march
toward Moscow reverberated through markets and raised questions about President
Vladimir Putin's grip on power.
The rouble lost a key
support factor on Wednesday as a month-end tax period that typically sees
exporters convert foreign currency revenues to meet local liabilities passed.
Bank of Russia Deputy
Governor Alexei Zabotkin said reduced export revenues and the balance of
payments were determining the rouble's weakening, which he said carried no
risks to financial stability.
"But, certainly,
the exchange rate dynamics will be taken into account at the next board meeting
on the key rate in terms of clarifying the impact ... on inflation dynamics
this year," the Interfax news agency quoted Zabotkin as saying on Friday.
Brent crude oil , a
global benchmark for Russia's main export, was up 0.1% at $74.41 a barrel.
Russian stock indexes
were lower.
The dollar-denominated
RTS index (.IRTS) was down 2.1% to 985.5 points. The
rouble-based MOEX Russian index (.IMOEX) was
0.3% lower at 2,787.6 points.
Shares in
Gazprom (GAZP.MM) dropped about 0.6% after the energy
group's shareholders approved the board's recommendation against paying
full-year 2022 dividends after allocating a half-year dividend of 1.2 trillion
roubles ($13.6 billion).
($1 = 88.2200 roubles)
Reporting by Alexander
Marrow; Editing by Jamie Freed, Robert Birsel, Jane Merriman and Mark Heinrich
Our Standards: The Thomson Reuters Trust Principles.
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