Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Russian rouble weakens after hitting 5-year high vs euro

Economy May 13, 2022 08:10AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. FILE PHOTO: Russian Rouble coins are seen in front of displayed descending stock graph in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - The Russian rouble weakened on Friday after rallying past 63 per dollar in Moscow for the first time since early February 2020 and touching a near five-year high against the euro, supported by continuing restrictions on currency trading.

The rouble is the world's best-performing currency this year, although this is due to artificial support from capital controls Russia imposed to shield its financial sector in late February after sending tens of thousands of troops into Ukraine.

The exchange rate is mostly being driven by export-focused companies that have to convert their foreign currency revenues, while demand for forex is limited as imports into Russia have waned amid disruptions in logistics and sweeping Western sanctions.

As of 1133 GMT, the rouble had eased 1.4% to 64.17 against the dollar, after earlier touching 62.6250, its strongest mark since early February 2020.

President Vladimir Putin on Thursday cited the rouble rally as an example of Russia's sound performance under sanctions.

Against the euro, the rouble shed 2% to 66.67, moving away from 64.9425, which it touched in early trade on the Moscow Exchange. That was its strongest since June 2017.

Banks are offering to buy roubles at much weaker levels, however. Russia's No.1 lender Sberbank offered to sell dollars and euros for 72.59 and 76.41 roubles, respectively.

Promsvyazbank analysts said they expected the rouble to return towards 65 to the dollar towards the end of the session as market players close positions going into the weekend.

Despite some weakness in the rouble ahead of the weekend, levels of 55-60 roubles to the dollar look achievable in the short-term, said Dmitry Polevoy, head of investment at LockoInvest.

Russian stock indexes were mixed.

The dollar-denominated RTS index was down 1% at 1,129.0 points, earlier touching its strongest point since Feb. 22 of 1,631.11. The rouble-based MOEX Russian index rose 0.6% to 2,312.0 points.

For Russian equities guide see

For Russian treasury bonds see



Russian rouble weakens after hitting 5-year high vs euro

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email