Back
10 Nov 2014
Ruble posts the largest loss since early 2009 – KBC
FXStreet (Barcelona) - The KBC Market Research Team sees the Russian central bank’s response as the major catalyst for Ruble’s fall and the increased attention.
Key Quotes
“As the Central European currencies remained broadly stable on Friday, the Russian ruble, continuing its downslide against the dollar, captured most attention (even though the USD itself fell quite sharply, too)”
“Its strong depreciation (the ruble lost about 5.5 percent against the basket of currencies last week) triggered a response from the Russian central bank, which said on Friday that it stood ready to intervene in favour of the ruble without prior warning and that it also could use other tools (capital controls?) to prevent the ruble from further losses.”
“It is however clear that renewed fights in the Eastern Ukraine mean nothing good for the Russian currency (even though it has posted some gains in today´s early trading).”
Key Quotes
“As the Central European currencies remained broadly stable on Friday, the Russian ruble, continuing its downslide against the dollar, captured most attention (even though the USD itself fell quite sharply, too)”
“Its strong depreciation (the ruble lost about 5.5 percent against the basket of currencies last week) triggered a response from the Russian central bank, which said on Friday that it stood ready to intervene in favour of the ruble without prior warning and that it also could use other tools (capital controls?) to prevent the ruble from further losses.”
“It is however clear that renewed fights in the Eastern Ukraine mean nothing good for the Russian currency (even though it has posted some gains in today´s early trading).”