×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Ruble Falls Against the Dollar Amid Emerging Market Weakness

Russia's currency performed better than its emerging-market peers last week, falling 0.5 percent versus the dollar, compared to 1.9 percent losses in the South African rand, a 2.1 percent slide in the Turkish lira and a 4.6 percent fall in the Indian rupee.

"We remain bearish on the ruble from a medium-term perspective, as Russian fundamentals are deteriorating and the Central Bank continues to focus on boosting ruble liquidity and is moving closer to easing policy rates," BNP Paribas said in a note.

"In the meantime, however, the ruble remains supported by stable oil prices." BNP forecasts that the ruble will decline to 33.75 to the dollar by the end of the year.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more