This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/536476-ruble-gainer-dollar-september/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Ruble only major emerging market currency to gain against US dollar in September | |
| (about 20 hours later) | |
| The Russian national currency, the ruble, was reportedly the only emerging-market currency to appreciate against the US dollar last month despite Washington’s threat of expanded curbs on purchasing the country’s state debt. | |
| “In September, the currencies of developed markets fell by up to 2% against the dollar, while some currencies of emerging markets, including Brazilian real, Hungarian forint, Thai baht, dropped about 5%, with Turkish lira declining by an enormous 7%,” FX and Rates Strategist at SberCIB Investment Research Yuri Popov said, as quoted by TASS. | “In September, the currencies of developed markets fell by up to 2% against the dollar, while some currencies of emerging markets, including Brazilian real, Hungarian forint, Thai baht, dropped about 5%, with Turkish lira declining by an enormous 7%,” FX and Rates Strategist at SberCIB Investment Research Yuri Popov said, as quoted by TASS. |
| Meanwhile, the growth of the ruble versus the greenback totaled 0.68%, data tracked by Bloomberg shows. | Meanwhile, the growth of the ruble versus the greenback totaled 0.68%, data tracked by Bloomberg shows. |
| According to Popov, the strong ruble is attributable to the latest increase of the key rate by the Bank of Russia, along with inflows of foreign funds to ruble-denominated OFZ federal bonds, which amounted to 110 billion rubles ($1.5 billion) in September. | According to Popov, the strong ruble is attributable to the latest increase of the key rate by the Bank of Russia, along with inflows of foreign funds to ruble-denominated OFZ federal bonds, which amounted to 110 billion rubles ($1.5 billion) in September. |
| “The main factor is the rise in oil and gas prices, which should continue until the end of the year, and without talks about new sanctions, the ruble should be even higher,” Iskander Lutsko, chief investment strategist at ITI Capital, told Bloomberg. | “The main factor is the rise in oil and gas prices, which should continue until the end of the year, and without talks about new sanctions, the ruble should be even higher,” Iskander Lutsko, chief investment strategist at ITI Capital, told Bloomberg. |
| Both analysts expect the Russian currency to strengthen to 71 per dollar in October. | Both analysts expect the Russian currency to strengthen to 71 per dollar in October. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | Dear readers and commenters, |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. |
| Sorry for the inconvenience, and looking forward to your future comments, | Sorry for the inconvenience, and looking forward to your future comments, |
| RT Team. | RT Team. |