Russian Rouble At All-time Low Against U.S. Dollar

The Russian Rouble hit a fresh low against the U.S. dollar on Friday, as the shortage of foreign currency to meet debt repayments, and appreciation of dollar on hopes of an early hike by the Federal Reserve pressured the currency.

Signs of improving U.S. growth added to speculation that the Federal Reserve will raise interest rates sooner than anticipated, thereby supporting the dollar.

With restricted access in Western financial markets after the sanctions, Russian companies were under difficulty to meet foreign debt repayments. A draft law was submitted to the Russian parliament on Wednesday would allow the Russian courts to seize foreign assets on Russian territory.

Russian shares were also hurt by a Russian court decision to seize Sistema's shares in oil company Bashneft following a criminal investigation.

The Russian Rouble hit a fresh low of 38.98 per dollar, compared to Thursday's closing value of 38.41.

US Dollar vs RUB (FX:USDRUB)
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