Rouble falls past 94 to dollar as market takes a breather after volatile week

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Brasil Últimas Notícias,Brasil Manchetes

Aug 21 (Reuters) - The rouble weakened past 94 to the dollar on Monday but traded relatively steady after one of its most volatile weeks all year, when an unscheduled rate hike to 12% and support from exporters' foreign currency sales sparked a recovery from beyond the 100 mark.

By 1126 GMT, the rouble was 0.6% weaker against the dollar at 94.30 and had lost 0.9% to trade at 102.81 versus the euro . It had shed 0.5% against the yuan to 12.89 .

Analysts said more measures may be needed to return the rouble to the 80-90 range authorities have deemed acceptable, but subsequent reports that capital controls may be reintroduced seemed to be having the desired effect. As the end of the month approaches, the rouble also has the support of tax payments, where exporters usually convert foreign revenues into roubles to meet local liabilities.

 

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