Russian Ruble At More Than 3-week High Versus Dollar After Russia Decision
June 14 2019 - 3:06AM
RTTF2
The Russian Ruble gained ground against the U.S. dollar in the
European session on Friday, after Russia's central bank cut the key
interest rate, after leaving it unchanged for three policy sessions
in a row and hinted at more reduction in future.
The Board of Directors decided to cut the key rate by 25 basis
points to 7.50 percent, the Bank of Russia said in a statement.
While annual inflation is slowing, expectations remain elevated,
the bank said. However, short-term pro-inflationary risks have
abated compared to March, the bank added.
The Russian Ruble appreciated to more than 3-week high of 64.27
against the greenback, compared to Thursday's closing value of
64.55. The Ruble is likely to find resistance around the 61.00
level.
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