3 October 2014

Rouble weakens to level of automatic Central bank interventions

Reuters: 03. October 2014


A woman walks past a currency exchange office in central Moscow on Sept. 16, 2014.

Russia's rouble weakened to 44.40 against a dollar-euro basket soon after opening on Friday, hitting the level where the central bank starts unlimited interventions to defend the currency.
The rouble first breached this level on Oct. 1, prompting the central bank's first interventions to support the rouble since May.


The currency has been under heavy selling pressure for months due to falling oil prices, sanctions over the Ukraine crisis and strong demand for dollars from Russian firms shut out of international capital markets.

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