{"id":110341,"title":"The Russian rouble weakened near 100 to the dollar","publisher":"Share Talk","author":"sharetalk","published":"2023-10-03T09:04:29+00:00","modified":"2023-10-03T09:04:29+00:00","canonical_url":"https://www.share-talk.com/the-russian-rouble-weakened-near-100-to-the-dollar/","markdown_url":"https://www.share-talk.com/the-russian-rouble-weakened-near-100-to-the-dollar.md","json_url":"https://www.share-talk.com/the-russian-rouble-weakened-near-100-to-the-dollar.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Anton Siluanov","Barrel","Benchmark","Berlin","Brent","cap","countries","crude","Druzhba","EU","European Union","Finance minister","G7","German","international","oil","pipeline","Poland","Polish","Price","rouble","Russia","Russian","sanction","Schwedt refinery","Share Talk","Ukraine","Vladimir Putin","Wagner mercenary group","Warsaw","Yevgeny Prigozhin"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/The-Russian-rouble.jpg?fit=750%2C406&quality=89&ssl=1","format":"news","language":"en-GB","content":"The Russian rouble dipped beyond the notable mark of 100 per dollar, but rebounded slightly during early transactions, as Moscow grapples with a diminishing current account surplus.\n\nIn August, the rouble’s previous decline to three-digit figures prompted the Bank of Russia to urgently raise its rate by 350 basis points to 12pc. Officials also considered re-implementing measures to bolster the currency.\n\nEarly in the trading day, the rouble briefly touched 100.2550, marking a more than seven-week low, before appreciating to 99.43, 0.2pc up against the dollar. It depreciated 0.1pc to 120.10 versus the pound, but rose 0.6pc, reaching 104.29 against the euro.\n\nBrent crude oil, a key reference for Russia’s primary export, decreased by 0.8pc, reaching $90 a barrel, the lowest in nearly a month, though still surpassing its 2023 average.\n\nTypically, the Russian rouble faces stress at the beginning of each month. This is due to the end of a favourable tax phase, during which exporters usually exchange their foreign earnings to cover domestic obligations."}