AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.20 Increased By ▲ 0.16 (0.13%)
BOP 6.63 Decreased By ▼ -0.04 (-0.6%)
CNERGY 4.52 Increased By ▲ 0.01 (0.22%)
DCL 8.56 Increased By ▲ 0.01 (0.12%)
DFML 41.72 Increased By ▲ 0.28 (0.68%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.60 Increased By ▲ 0.32 (0.99%)
FFBL 64.87 Increased By ▲ 0.07 (0.11%)
FFL 10.22 Decreased By ▼ -0.03 (-0.29%)
HUBC 109.68 Increased By ▲ 0.11 (0.1%)
HUMNL 14.74 Increased By ▲ 0.06 (0.41%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.55 Increased By ▲ 0.09 (1.21%)
MLCF 41.55 Increased By ▲ 0.17 (0.41%)
NBP 59.60 Decreased By ▼ -0.81 (-1.34%)
OGDC 192.75 Increased By ▲ 2.65 (1.39%)
PAEL 28.16 Increased By ▲ 0.33 (1.19%)
PIBTL 7.82 Decreased By ▼ -0.01 (-0.13%)
PPL 151.10 Increased By ▲ 1.04 (0.69%)
PRL 27.10 Increased By ▲ 0.22 (0.82%)
PTC 15.98 Decreased By ▼ -0.09 (-0.56%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.55 Increased By ▲ 0.14 (0.4%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.60 Increased By ▲ 0.19 (1.16%)
TRG 53.25 Decreased By ▼ -0.04 (-0.08%)
UNITY 26.30 Increased By ▲ 0.14 (0.54%)
WTL 1.28 Increased By ▲ 0.02 (1.59%)
BR100 9,989 Increased By 105.1 (1.06%)
BR30 31,165 Increased By 565.3 (1.85%)
KSE100 94,200 Increased By 844.9 (0.91%)
KSE30 29,189 Increased By 257.6 (0.89%)

MOSCOW: The rouble extended the week’s losses on Friday, slumping to fresh lows against the dollar, euro and yuan as the Russian currency traded without the support of a favourable month-end tax period and under pressure from an upcoming oil price cap.

By 1207 GMT, the rouble was 0.7% weaker against the dollar at 61.90, its weakest mark since Nov. 7.

It had lost 0.8% to trade at 64.99 versus the euro , at its weakest since July 7, and had shed 1% against the yuan to 8.81, slipping to its weakest since mid-October.

While the Chinese yuan has been making gradual inroads into Russia for years, the crawl has turned into a sprint in the past nine months as the currency swept into the country’s markets and trade flows, according to a Reuters review of data and interviews with 10 business and finance players.

The rouble has now lost support from a favourable month-end tax period that usually sees Russian exporters convert foreign currency revenues into roubles to pay local liabilities.

“In addition, the national currency is under pressure from news on the EU’s oil price ceiling,” said Evgeniy Linchik of First Asset Management.

Comments

Comments are closed.