Russian Ruble Falls To 6-day Low Against U.S. Dollar After Russia Rate Cut
26 Mai 2022 - 6:58AM
RTTF2
The Russian ruble declined against the U.S. dollar in the
European session on Thursday, as Russia's central bank reduced its
key rate by 300 basis points as challenging external conditions
hurt economic activity.
The Board of Directors of Bank of Russia decided to cut the
benchmark rate to 11 percent from 14 percent.
The central bank said that it would take into account actual and
expected inflation dynamics relative to the target and economic
transformation processes, as well as risks posed by domestic and
external conditions and the reaction of financial markets, and
holds open the prospect of a key rate reduction at its upcoming
meetings.
The Russian ruble dropped to a 6-day low of 61.00 against the
greenback from Wednesday's close of 59.59. The next likely support
for the currency is seen around the 66.00 level.
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