Rouble hits over 2-month high vs dollar, Russian stocks stutter


Rouble hits more than 2-month high of 56.5450 vs dollar


Currency touches near 3-month high vs euro


Russian stocks slip as geopolitical risk bites


Putin set to annex four Ukrainian territories


This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

By Alexander Marrow

MOSCOW, Sept 29 (Reuters) - The Russian rouble surged to a more than two-month high against the dollar on Thursday, while geopolitical headwinds halted a tentative recovery on stock markets as President Vladimir Putin prepared to annex four Ukrainian territories.

Putin will on Friday begin formally annexing 15% of Ukrainian territory, presiding at a ceremony in the Kremlin to declare the regions part of Russia following referendums that Ukraine and the West have rejected as illegitimate.

By 1217 GMT, the rouble was 0.9% stronger against the dollar at 57.00 RUBUTSTN=MCX , earlier hitting 56.5450, its strongest point since July 22.

The Russian currency had gained 0.4% to trade at 55.25 versus the euro EURRUBTN=MCX , earlier touching 54.5750, its strongest since July 1. It had firmed 0.5% against the yuan to 7.985 CNYRUBTOM=MCX .

Finance Minister Anton Siluanov again mentioned that the government would prefer a weaker rouble, as he announced on Wednesday a new cut-off price for Russia's budget rule that diverts excess oil revenues into its wealth fund of $62-63 per barrel.

Siluanov also announced hefty borrowing plans for next year to help finance the budget deficit amid increased spending and floated the possibility of resuming FX interventions, this time with China's yuan.

"The words about possibly conducting foreign currency interventions as early as 2022 according to the 'old rules' resembles a 'cry for help' due to the rouble's unrestrained strengthening," said Dmitry Polevoy, head of investment at Locko Invest.

"The main question is whether the budget can afford it in light of the growing need for additional spending."

The rouble has been supported by capital controls and a collapse in imports since Putin sent troops into Ukraine in February. Geopolitical risks also remain elevated, with more U.S. and EU sanctions expected soon.

"For now, the rouble is supported by fears that new sanctions from the West could paralyse dollar trading in Russia," said Alor Broker in a note. "That's why many are getting out of the dollar."


BCS Global Markets said geopolitical risks should prohibit any major leg up for Russian stock indexes, which pared early gains.

The dollar-denominated RTS index .IRTS was down 0.5% to 1,069.8 points. The rouble-based MOEX Russian index .IMOEX was 1.4% lower at 1,936.0 points, heading back towards February lows hit on Monday.

"In the coming days, the Russian market should trade in a narrow band - investors are likely to sit on the fence hoping for more clarity," BCS said.

Moscow Exchange MOEX.MM , Russia's largest bourse, has gradually been restoring some order to financial markets, welcoming back some non-resident investors to certain instruments and extending trading hours for others.

The exchange plans to allow non-residents from "friendly" jurisdictions to return to the derivative market soon, it said on Thursday, but amid market volatility, the head of the bourse's supervisory board, Sergei Shvetsov, did not rule out more trading suspensions, without specifying which markets.

"We cannot rule out black swans in the future," Shvetsov told a financial forum. "If there is another situation, naturally there will be suspensions."
Reporting by Alexander Marrow; additional reporting by Elena Fabrichnaya; Editing by Angus MacSwan and Alex Richardson

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。