Russian Ruble Trades At Near 5-month Low Vs U.S. Dollar
August 03 2015 - 8:54AM
RTTF2
The Russian Ruble traded lower against the U.S. dollar in early
New York deals on Monday, following a sharp decline in oil prices
and on continued contraction in Russia's manufacturing sector
activity in July.
Survey data from Markit Economics showed that Russia's
manufacturing sector remained in the negative territory for the
eighth straight month in July.
The headline Purchasing Managers' Index for the manufacturing
sector fell to 48.3 in July from 48.7 in June. Economists had
expected the index to rise to 48.8.
Crude oil prices continued to collapse as weak Chinese data
renewed concerns about demand from the world's second largest
economy.
The ruble depreciated to 62.834 per greenback, a level unseen
since March 11. If the Russian currency continues its slide, 64.00
is possibly seen as its next support level. The pair was worth
60.60 at Friday's close.
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