Support The Moscow Times!

Ruble, Stocks at 2-Year Low

The ruble declined for a 10th day against the Central Bank's target dollar-euro basket, extending its longest losing streak since January 2009, as oil prices fell after the Federal Reserve said there are "significant downside risks" to the U.S. economy.

The ruble depreciated more than 0.9 percent to 37.04 versus the basket as of 6:59 p.m. in Moscow on Thursday, the weakest level since December 2009. The ruble sank about 1.7 percent to 32 against the dollar and was little changed at 43.05 against the euro.

Russian stocks sank on Thursday, with the 30-stock MICEX Index down 7.8 percent to 1,389.43 by the 6:45 p.m. close in Moscow, its sharpest retreat since February 2009. The RTS Index lost 8.6 percent to 1,387.86.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.