- December 12, 2022
- Posted by: Stratford Team
- Category: Economy
- This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
MOSCOW, Dec 12 (Reuters) – The Russian rouble weakened on Monday, sliding to 63 against the dollar, as global inflation pressure and recession concerns limited appetite for risk, with investors looking ahead to the Bank of Russia’s rate-setting meeting on Friday.
Markets also are awaiting a flurry of other interest rate decisions this week, including from the U.S. Federal Reserve and the European Central Bank.
By 1246 GMT, the rouble was 0.9% weaker against the dollar at 62.99 , earlier crossing the 63 threshold, and had lost 1.7% to trade at 66.65 versus the euro , clipping its weakest point since late May.
It had lost 0.4% against the yuan to 9.01 .
“In the coming days, the rouble will start to receive support from the tax period, but towards the end of the year, demand for FX could grow as a result of investors hedging their rouble positions and…
