AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,991 Increased By 107 (1.08%)
BR30 31,142 Increased By 542 (1.77%)
KSE100 94,162 Increased By 806.2 (0.86%)
KSE30 29,177 Increased By 245.8 (0.85%)

MOSCOW: The Russian rouble weakened in early trade on Friday, cutting short a slight recovery in the previous session as fears over oil and gas sanctions unnerved markets, though it got some support from a month-end tax period.

At 0706 GMT, the rouble was 0.8% weaker against the dollar at 69.74, slipping back towards its weakest since April 28 of 72.6325, hit in the previous session.

It had lost 0.4% to trade at 73.87 versus the euro and shed 1% against the yuan to 9.87 .

Yuan-rouble trading volumes exceeded 15 billion yuan on Thursday, a record on Moscow Exchange. Russia will start buying yuan on the market next year if oil and gas revenues meet expectations, two sources told Reuters, a report that was later confirmed by Finance Minister Anton Siluanov.

Market jitters over the impact of an oil embargo and price cap have seen the rouble plunge in recent days, with weekly losses exceeding 15% at its weakest point on Thursday.

Siluanov said that a recovery in imports, which had collapsed as Western nations imposed harsh sanctions on Moscow over its actions in Ukraine, was also behind the currency’s slide.

Brent crude oil, a global benchmark for Russia’s main export, was up 0.9% at $81.7 a barrel.

Analysts expect the rouble to find a foothold next week when month-end taxes, which usually see Russian exporters convert FX revenues to pay local liabilities, are due.

Russian stock indexes were lower.

The dollar-denominated RTS index was down 1% to 960.1 points. The rouble-based MOEX Russian index was 0.2% lower at 2,117.9 points.

Comments

Comments are closed.