Thursday, July 4, 2024 05:53 PM
Russian rouble weakens against major currencies amid oil price fluctuations
- Rouble weakens by 0.13% against the US dollar to 94.40
- Rouble falls by 0.46% against the euro to 100.85
- Russian stock market indexes experience a decline, RTS index falls by 0.21%
Image Credits: ReutersThe Russian rouble weakens against major currencies amidst global oil price fluctuations. Stock market indexes decline, reflecting interconnectedness with global markets.
The Russian rouble experienced a slight weakening against the US dollar on Thursday, with a 0.13% decrease to 94.40. The currency traded within a range of 94.200 to 94.400. In comparison to the euro, the rouble fell by 0.46% to 100.85 and also dropped 0.22% against the yuan to 13.01. This movement in the currency market comes amidst fluctuations in global oil prices, with Brent crude oil, a key export for Russia, seeing a modest 0.1% increase to $87.33 per barrel.
On the stock market front, Russian indexes faced a decline. The dollar-denominated RTS index fell by 0.21% to 1,151.82, reflecting a broader trend of negative sentiment in the market.
These developments highlight the interconnected nature of Russia's economy with global markets, particularly in the context of energy prices and currency fluctuations. Investors and analysts will be closely monitoring these indicators for further insights into the economic outlook for the country.
