Russian ruble falls against major currencies amid mixed economic indicators
Date
5/30/2024 4:23:09 AM
(MENAFN) On Wednesday, the Russian ruble experienced a decline against the US dollar, marking a 0.37 percent decrease by 07:15 GMT. The currency reached a rate of 88.90 rubles to the dollar, following a trading range between USD88.430 and USD89.348. Simultaneously, against the euro, the ruble saw a slight drop of 0.08 percent, settling at 96.52 rubles per euro. Moreover, it lost 0.23 percent of its value against the Chinese yuan, reaching a rate of 12.22 rubles.
Meanwhile, Brent crude, serving as the global benchmark for Russia's key exports, experienced a modest increase of 0.3 percent, reaching USD84.51 per barrel. This uptick in oil prices could potentially influence Russia's economic performance, given its significant reliance on oil revenue.
In the realm of stock markets, Russian indices depicted a downward trend. The dollar-denominated RTS index experienced a 0.4 percent decline, closing at 1170.0 points. Similarly, the ruble-denominated index, MOIX, witnessed a marginal decrease of 0.01 percent, settling at 3,302.44 points.
The mixed performance across various economic indicators underscores the ongoing volatility and challenges within Russia's financial landscape, reflecting both domestic and global factors influencing currency and market dynamics.
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