The Russian slid today as Russia’s central bank kept its main interest rates unchanged and crude oil, the main nation’s export, traded near the lowest level in six months.
Bank Rossii left its key refinancing rate at the same level today. The bank said in the statement:
The decision was supported by the assessment of inflation risks and risks of economic growth slowdown, including those associated with the global economic uncertainty.
The statement mentioned some positive fundamentals, including falling unemployment and growing consumer credit, but also told about negative ones, like slowing industrial production and low consumer sentiment. The ruble may yet rebound as positive employment data from the US can return appetite for riskier assets, including those of Russia, to Forex traders.
USD/RUB was up from 30.1965 to 30.2260 as of 14:17 GMT today.
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