Market News
Russian rouble down by one quarter since early August - REUTERS
- Rouble at 32-month low vs major currencies
- Rouble's slide has caught economists off guard
- Weak rouble fuels inflation
- Weak rouble boosts state budget revenues
MOSCOW, Nov 27 (Reuters) - The Russian rouble weakened further against the U.S. dollar and China's yuan on Wednesday and is down by over 24% since early August, when it started the current slide.
The rouble's fall caught off guard economists who expected the Russian currency to hit the 100 mark against the dollar in one year, according to the Reuters poll in early November. It hit a 32-month low last week.
By 0800 GMT the rouble was down 0.86% at 106.40 against the dollar, according to LSEG data. It was down by 0.51% at 14.74 against the yuan, also the lowest level since March 2022, the first month of Russia's invasion of Ukraine.
