Latest news with #PSBbank
Business Recorder
18-06-2025
- Business
- Business Recorder
Rouble little changed against dollar
MOSCOW: The Russian rouble was little changed against the dollar on Tuesday despite the prices rallying as fighting between Israel and Iran entered a fifth day, raising investor concerns over the risk of a broader regional conflict. By 0925 GMT, the rouble was up 0.2% at 78.50 per US dollar, according to LSEG data based on over-the-counter quotes. The Russian currency is up by about 44% against the dollar since the start of the year. Oil prices, traditionally a supportive factor for the rouble, rose as much as 2.2% to a high of $74.85 a barrel, bringing gains in the last week to around 11%. 'The situation with the oil prices may still power up the rouble and help it hit new highs,' said PSB bank analyst Bogdan Zvarich.
Business Recorder
02-06-2025
- Business
- Business Recorder
Russian rouble weakens vs US dollar ahead of Ukraine talks
MOSCOW: The Russian rouble fell against the U.S. dollar on Monday ahead of a new round of talks between Russia and Ukraine in Istanbul and following Ukrainian attacks on Russian air bases on Sunday. By 0920 GMT, the rouble was down 1.7% at 78.80 per U.S. dollar, LSEG data based on over-the-counter quotes showed. The rouble hit 76.90 to the dollar, its strongest since May 2023, on May 29. Russia and Ukraine are set to hold their second round of direct peace talks since 2022, but the two sides are still far apart on how to end the war and the fighting has stepped up ahead of the talks. The markets will also be closely watching the central bank's decision, due on June 6, on its key interest rate, which is currently at 21%, the highest level since the early 2000s. The regulator jacked up borrowing costs to dampen inflation. 'The majority is focused only on the regulator's easing of signals, indicating a possible key rate reduction in upcoming meetings,' said Denis Popov from PSB bank. 'Under these conditions, high demand for rouble assets will persist, which will significantly support the rouble's exchange rate, even with a moderately negative geopolitical news backdrop,' he added. Against the Chinese yuan, the rouble was down 0.4% at 10.93 on the Moscow Stock Exchange. Russia's central bank uses yuan for foreign exchange interventions, and it is the most traded foreign currency in Russia.
Reuters
21-05-2025
- Business
- Reuters
Russian rouble near highest against US dollar since June 2023
MOSCOW, May 21 (Reuters) - The Russian rouble briefly strengthened past the level of 80 to the U.S. dollar on Wednesday before rebounding, but remained close to its highest level since June 2023. By 1000 GMT, the rouble was up 0.4% at 80.30 per U.S. dollar, LSEG data based on over-the-counter quotes showed. The Russian currency has risen by over 40% against the dollar this year. The rouble's exchange rate did not appear to suffer any major impact from new sanctions against Russia, announced by the EU and Britain on May 20, which targeted Russia's "shadow fleet" of oil tankers and financial firms. Analysts have said the rouble's strength this year is linked to the easing of geopolitical tensions and the central bank's tight monetary policy, which has reduced demand for foreign currency. "The strengthening of the rouble is largely due to the prolonged rigidity of monetary policy, which stimulates interest in rouble assets, against the backdrop of a positive geopolitical track," said Denis Popov from PSB bank. Against the Chinese yuan, which Russia's central bank uses for its foreign exchange interventions and is the most-traded foreign currency in Russia, the rouble was up 0.7% at 11.09 per yuan on the Moscow Stock Exchange.
Zawya
21-05-2025
- Business
- Zawya
Russian rouble near highest against US dollar since June 2023
The Russian rouble briefly strengthened past the level of 80 to the U.S. dollar on Wednesday before rebounding, but remained close to its highest level since June 2023. By 1000 GMT, the rouble was up 0.4% at 80.30 per U.S. dollar, LSEG data based on over-the-counter quotes showed. The Russian currency has risen by over 40% against the dollar this year. The rouble's exchange rate did not appear to suffer any major impact from new sanctions against Russia, announced by the EU and Britain on May 20, which targeted Russia's "shadow fleet" of oil tankers and financial firms. Analysts have said the rouble's strength this year is linked to the easing of geopolitical tensions and the central bank's tight monetary policy, which has reduced demand for foreign currency. "The strengthening of the rouble is largely due to the prolonged rigidity of monetary policy, which stimulates interest in rouble assets, against the backdrop of a positive geopolitical track," said Denis Popov from PSB bank. Against the Chinese yuan, which Russia's central bank uses for its foreign exchange interventions and is the most-traded foreign currency in Russia, the rouble was up 0.7% at 11.09 per yuan on the Moscow Stock Exchange. (Reporting by Gleb Bryanski, editing by Ed Osmond)
Reuters
31-03-2025
- Business
- Reuters
Russian rouble weakens after Trump's Russia comments
MOSCOW, March 31 (Reuters) - The Russian rouble weakened against the U.S. dollar on Monday after U.S. President Donald Trump said he was"pissed off" at Russian President Vladimir Putin and threatened buyers of Russian oil with tariffs. By 0920 GMT, the rouble was down 0.7% at 85.50 against the dollar in the over-the-counter market. The Russian currency is up by about 25% against the dollar this year, mostly on expectations of easing geopolitical tensions. Trump told NBC News on March 30 that he was very angry after Putin criticised the credibility of Ukrainian President Volodymyr Zelenskiy's leadership. His comments reflect his growing frustration about the lack of movement on a ceasefire. "The news backdrop, at the very least, has halted the formation of optimistic expectations in the market, which limits demand for rouble-denominated assets," said Denis Popov from PSB bank. The rouble also lost support from foreign currency conversion by exporting companies, which had been buying up roubles last week to make their corporate tax payments. "After the exhaustion of fundamental factors that created a slight oversupply of foreign currency last week, there is a risk that the value of the rouble may shift to somewhat weaker levels," Popov added. Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was down 0.2% to 11.70, on the Moscow Stock Exchange.
