Russian rouble down 1.1 per cent, Euro lower
MOSCOW, Nov 14 (Reuters) – The Russian rouble weakened and stocks fell on Monday under pressure from sliding oil prices and a surge in the U.S. dollar.
At 1123 GMT, the rouble was 1.1 per cent weaker against the dollar at 66.42, hitting its weakest level since early August. Versus the euro, the rouble lost 0.3 per cent to trade at 71.53.
The dollar, which is at its strongest in nearly a year, has been roaring higher since Republican Donald Trump won the U.S. presidential election on Nov. 8.
Brent crude oil, a global benchmark for Russia’s main export, was down 1.3 per cent at $44.16 a barrel, sliding from levels of above $50 per barrel seen before Trump’s election victory.
“It is hard to see domestic Russian stories outweighing global Trump-related volatility, at least in the near term,” analysts at Sberbank CIB said in a research note.
Russian share indexes were lower, but losses in the rouble-traded MICEX index were capped by the weakness of the Russian currency.
The MICEX was 0.7 per cent lower at 2017.98 points, while the dollar-denominated RTS index was down 1.4 per cent to 956.93 points.
Rosbank, a Russian subsidiary of French bank Societe Generale, said the sell-off in Russian assets could be halted if Trump uses a “gentle tone” when talking about his plans as president.
Emerging markets worldwide also fared badly on Monday amid the dollar surge and rising U.S. Treasury yields.
(Reporting by Andrey Ostroukh; Editing by Alexander Winning)