Russian Ruble Eases From New 9-month High Against Greenback
October 15 2009 - 9:24AM
RTTF2
The Russian currency that soared to a fresh 9-month high of
29.3085 against the US dollar during early European trading on
Thursday pared some of its gains thereafter. Around 8:25 am ET, the
ruble drifted lower to 29.4475 against the greenback and the next
near-term support for the domestic unit is seen around the 29.46
level. The ruble ended Wednesday's trading higher at 29.3745
against the greenback.
In economic news, Russia's industrial production dropped 9.5%
year-on-year in September after falling 12.6% in August, the
Federal State Statistics Service said today.
On a monthly basis, industrial production increased 5.1% in
September, faster than the 3% fall in the previous month.
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