Economic news

Russian Rouble Stabilises in Early Moscow Trade

March 10 (Reuters) - The Russian rouble stabilised in early Moscow trade on Thursday, before the first talks between the Russian and Ukrainian foreign ministers since Russia invaded Ukraine two weeks ago.

At 0734 GMT, the rouble was at 120.1 against the dollar , barely changed from Wednesday's 120.0 close. Against the euro it was around 0.8% weaker at 128.0 .

The Russian currency has tanked since Russia sent troops into Ukraine on Feb. 24, prompting severe economic sanctions from the West. On Wednesday it crossed 120 to the dollar for the first time in Moscow and reached a record low of 131 against the euro.

Top Russian and Ukrainian diplomats Sergei Lavrov and Dmytro Kuleba are due to meet in Turkey later in the day.

Kuleba has said his expectations of the talks are low, as Ukraine is seeking a ceasefire, liberation of its territories and to resolve all humanitarian issues.

Moscow demands that Kyiv take a neutral position and drop aspirations of joining the NATO alliance, with a Russian negotiator saying late on Wednesday that Russia's delegation "will not concede a single negotiating point" in talks with Ukraine.

Stocks last traded in Moscow on Feb. 25 and on Thursday trading remained largely suspended by order of the central bank.

The central bank has also more than doubled its key interest rate to 20% in an emergency move and introduced capital controls to preserve precious foreign currency. The Kremlin on Wednesday put the United States on notice it was considering its response to a ban on Russian oil and energy. 

Reporting by Reuters

Source: Reuters

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree