Russian Ruble Extends Slide Vs U.S. Dollar After Central Bank's Rate Cut
January 30 2015 - 7:14AM
RTTF2
The Russian Ruble continued its early decline against the U.S.
dollar on Friday's European deals, after the Russia's central bank
cut its key rate in a bid to underpin economic activity that
remains hurt by falling oil prices and economic sanctions.
The Bank of Russia Board of Directors decided to reduce the key
rate to 15.00 percent from 17.00 percent. Economists had expected
the bank to retain the policy rate.
"The decision taken is aimed at averting the sizeable decline in
economic activity against the background of negative external
factors," the bank said.
The ruble declined to a 1-1/2-month low of 71.72 against the
greenback, compared to Thursday's closing value of 68.44. The next
possible downside target for the ruble is seen around the 72.5
zone.
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