×
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 Weakens on Lower Oil Prices and Nemtsov Murder

People walk along a street, with a board displaying currency exchange rates seen above, in Moscow.

The Russian ruble weakened at opening on Monday, hurt by a decline in oil prices and the murder on Friday of prominent Kremlin critic Boris Nemtsov.

At 0723 GMT, the ruble was around 0.9 percent weaker against the dollar at 62.17 and had lost 0.8 percent to trade at 69.48 versus the euro.

Oil, Russia's chief export, fell about 1 percent on Monday on supply concerns, with benchmark Brent at $61.9 per barrel, after the first monthly rise since June.

The assassination of Nemtsov late on Friday night in the vicinity of the Kremlin sent chills to investors in Russian assets, raising concerns about security of their investments.

"The murder of the famous oppositionist Boris Nemtsov may negatively affect Russia-West relations," said Andrei Dirgin from Alfa-Forex.

"This tragic incident can serve as an additional argument to consider new sanctions against Russia — with which we are already blanketed."

Russian stock indexes were mixed, with the dollar-denominated RTS index down 0.2 percent to 895 points and the ruble-based MICEX up 0.4 percent, with the latter capitalizing chiefly on the ruble's decline.


… 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