MOSCOW, March 22 (Reuters) – The Russian rouble weakened on Monday to a more than two-week low versus the dollar, as new sanctions against Moscow loomed and with emerging market currencies struggling after the abrupt firing of Turkey\u2019s central bank chief sent the lira tumbling.<\/p>\n
At 0741 GMT, the rouble was 0.7% weaker against the dollar at 74.63, its weakest mark since March 5.<\/p>\n
It had lost 0.5% to trade at 88.69 versus the euro .<\/p>\n
The lira slid 15% to a near all-time low after President Tayyip Erdogan\u2019s shock weekend ousting of a hawkish central bank governor sparked fears of a reversal of recent rate hikes, before clawing back some overnight losses.<\/p>\n
The threat of more U.S. sanctions is also hanging over the rouble, with an announcement expected this week.<\/p>\n
\u201cIf U.S. sanctions this week are limited to personal restrictions and additional measures against Nord Stream 2, the rouble could well return to the 73-74\/USD range after short-term volatility,\u201d said Dmitry Polevoy, head of investment at Locko Invest.<\/p>\n
The rouble has suffered in the past week since U.S. President Joe Biden said his Russian counterpart Vladimir Putin would \u201cpay a price\u201d for alleged meddling in the 2020 U.S. election.<\/p>\n
The Russian currency should gain support this week from a month-end tax payments period that usually leads export-focused companies to convert foreign currency revenues to meet local liabilities.<\/p>\n
Last week\u2019s surprise 25 basis point rate hike by the central bank should lend the rouble additional support.<\/p>\n
Brent crude oil, a global benchmark for Russia\u2019s main export, was down 1.2% at $63.75 a barrel.<\/p>\n
Russian stock indexes were mixed.<\/p>\n
The dollar-denominated RTS index was down 0.4% to 1,468.5. The rouble-based MOEX Russian index was 0.1% higher at 3,478.2.<\/p>\n
For Russian equities guide see<\/p>\n
For Russian treasury bonds see<\/p>\n