The rouble dropped to 64.95 against the U.S. dollar in morning trade in Moscow for its most inferior reading after July 6 before recouping. By 0945 GMT, the rouble was trading under 0.2% for the session at 64.10.
Versus the euro, the rouble crashed to an 11-week low before rebounding to stand up 0.1% at 68.25, while the currency was facedown versus the Chinese yuan at 9.17.
After slamming to historic lows when Moscow dispatched tens of thousands of troops into Ukraine on Feb. 24 and the West set mopping sanctions on Russia, strict capital controls have supported the rouble to recover strongly over the summer.
Nevertheless, worries of a global recession, the European Union’s embargo on Russian oil exports, and a Western price cap have pressured the Russian currency.
Russian stock indexes fell on Thursday
The recent deficiency in the rouble comes even as prices for benchmark crude oil have rebounded beyond $80 a barrel after beating their lowest for the year last week.
Analysts expressed that a fall in foreign currency earnings by Russian exporters, who must convert at least half of their foreign profits into roubles, was mulling on the currency.
The dollar-denominated RTS index yielded 1% to stand at 1,049.7 points, while the rouble-based MOEX Russian index was under 1% at 2,137.3 points.
Also, in principle, was an impending central bank conference tomorrow. The regulator is predicted to hold interest rates at 7.5% in its final rate-setting conclusion of the year.
