Ruble Continues Slide Against Dollar, Euro
By Ria Novosti
US dollar and Euro futures jumped sharply in Monday trade on the Micex, pushing the Euro to the highest against the Russian currency since December 2011, as crude prices continue to fall in the wake of Friday’s disastrous U.S. job figures and ongoing volatility in the Eurozone.
On Monday morning on the Micex the dollar for settlement tomorrow rose 22 kopecks to 33.90 rubles with the euro up 44 kopeks to 42.09, its strongest in six months. The bi-currency basket (0.55 dollars and 0.45 euros) rose 33 kopeks compared with Friday’s close, reaching 37.60 rubles.
Analysts had forecast before trade began that the ruble would remain under pressure, with the price of Brent crude now approaching $95 per barrel in Monday trade.
