The rouble has been hit hard by the twin negative shocks from COVID-19 and the oil price collapse weakening sharply during March against the US dollar from 67.153 to 77.970, per MUFG Bank. Key quotes “The sharply weaker rouble has limited the room available for the CBR to loosen policy to support growth. Governor Nabiullina has even hinted that rate hikes may be required to combat upside risks from inflation which are set to spike higher.” “An emergency fund totalling about USD3.7 billion has been set up to help companies and people affected by the disruption.” “Russia has now moved towards a full lockdown which will result in an even deeper recession. In these circumstances, the rouble remains vulnerable in the near-term but should rebound further out.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: Bulls take a brief pause near 1-month old descending trend-line resistance FX Street 2 years The rouble has been hit hard by the twin negative shocks from COVID-19 and the oil price collapse weakening sharply during March against the US dollar from 67.153 to 77.970, per MUFG Bank. Key quotes “The sharply weaker rouble has limited the room available for the CBR to loosen policy to support growth. Governor Nabiullina has even hinted that rate hikes may be required to combat upside risks from inflation which are set to spike higher.” “An emergency fund totalling about USD3.7 billion has been set up to help companies and people affected by the disruption.” “Russia has now moved… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
