{"id":127461,"date":"2022-05-24T08:53:40","date_gmt":"2022-05-24T08:53:40","guid":{"rendered":"https:\/\/fin2me.com\/?p=127461"},"modified":"2022-05-24T08:53:40","modified_gmt":"2022-05-24T08:53:40","slug":"russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years\/","title":{"rendered":"Russian rouble firms past 57 to the dollar for first time in four years"},"content":{"rendered":"

(Reuters) – The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls.<\/p>

FILE PHOTO: A Russian rouble banknote is seen placed on U.S. dollar banknotes in this illustration taken March 1, 2022. REUTERS\/Dado Ruvic\/Illustration\/File Photo<\/figcaption>

The rouble has firmed about 30% against the dollar this year despite a full-scale economic crisis in Russia, making it the world\u2019s .<\/p>\n

The rouble is steered by capital controls imposed in late February to shield Russia\u2019s financial sector after Moscow\u2019s decision to send tens of thousands of troops into Ukraine prompted unprecedented Western sanctions.<\/p>\n

At 0725 GMT, the rouble was 0.7% stronger against the dollar at 57.44 after firming to 56.61 on the Moscow Exchange for the first time in more than four years.<\/p>\n

Against the euro, the rouble gained 0.9% to 59.57, hovering near seven-year highs.<\/p>\n

The currency\u2019s strength has raised concerns about the negative impact on Russia\u2019s budget revenue from exports. On Monday, Russia cut the proportion of foreign currency revenue that exporters must convert into roubles to 50% from 80%.<\/p>\n

Despite the slight relaxation in capital controls, the rouble could firm to 55 against the dollar in the near term, said Dmitry Polevoy, head of investment at LockoInvest.<\/p>\n

\u201cCurrent levels could be used to open long positions in foreign currencies by mid- and long-term investors,\u201d Polevoy said.<\/p>\n

The rouble may return to levels of 60-65 against the dollar in June, Sinara Investment Bank said in a note.<\/p>\n

The rouble was weaker at banks. Russia\u2019s largest lender Sberbank offered to sell cash dollars and euros for 58.20 and 60.38 roubles, respectively.<\/p>\n

The dollar-denominated RTS index shed 0.7% to 1,245.0 points. The rouble-based MOEX Russian index was 0.1% lower at 2,276.7 points.<\/p>\n

For Russian equities guide see<\/p>\n

For Russian treasury bonds see<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency […]<\/p>\n","protected":false},"author":3,"featured_media":127460,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nRussian rouble firms past 57 to the dollar for first time in four years - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russian rouble firms past 57 to the dollar for first time in four years - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-24T08:53:40+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2022\/05\/Russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years\/\",\"url\":\"https:\/\/fin2me.com\/business\/russian-rouble-firms-past-57-to-the-dollar-for-first-time-in-four-years\/\",\"name\":\"Russian rouble firms past 57 to the dollar for first time in four years - 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