Russian ruble weakens past symbolic threshold of 100 against the dollar
Publishing timestamp: 2023-10-03 08:56:57
Summary
The Russian ruble weakened beyond 100 to the US dollar due to foreign currency outflows and a shrinking balance of trade. The central bank has previously hiked interest rates to combat inflationary pressure, and they may need to tighten monetary conditions further to limit inflation deviation from the target. The decline in the ruble is attributed to factors such as loose monetary policy, a decline in the current account surplus, and the impact of Western sanctions.
Sentiment: NEGATIVE
Keywords: markets, breaking news: investing, economy, currency markets, vladimir putin, us dollar / russian ruble fx spot rate, dxy us dollar currency index, breaking news: economy, breaking news: markets, business news, investment strategy,