Ruble regains ground, hryvnia's TWI down

Ruble regains ground, hryvnia's TWI down



23 грудня 2014 года
ICU

Russia's FX market has become an epicenter of attention, particularly in light of its sheer size and importance as an export market for former Soviet states. After starting last week at 52/USD, the Russian ruble dropped to as low as 78/USD at midday Tuesday on heavy FX selling from the central bank. However, the FX market recovered to 58/USD on Friday and settled at 56/USD yesterday. It is assumed that the Kremlin persuaded large business groups to sell excess FX last Friday, a strategy that appears to have worked. As a result of the ruble's recent volatility, the hryvnia's trade weighted index has declined significantly since last week.

Источник: ICU

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