June 29 Reuters The Russian rouble weakened past 87 against the dollar to a 15month low on Thursday, hampered by domestic political risk concerns after an aborted mutiny over the weekend, with market uncertainty fuelling demand for safehaven assets.

By 0823 GMT, the rouble was 0.7 weaker against the dollar at 86.96 having hit 87.47, its weakest point since March 29, 2022.

It was down 0.7 to trade at 94.94 versus the euro and shed 0.8 against the yuan to 11.98 .

Capital controls have helped insulate the rouble against geopolitics in the 16 months since Russia invaded Ukraine, but Yevgeny Prigozhin39;s march on Moscow reverberated through markets and left questions about President Vladimir Putin39;s grip on power.

The rouble lost a key support factor on Wednesday as a monthend tax period that typically sees exporters convert foreign currency revenues to meet local liabilities passed.

As we expected, the rouble fell at the end of the tax period, quite sharply, by around 1.5, said Alor Broker in a note. We expect the national currency39;s weakening to continue, down to around 8990 against the dollar.

Brent crude oil , a global benchmark for Russia39;s main export, was down 0.4 at 73.74 a barrel.

Russian stock indexes were higher.

The dollardenominated RTS index was up 0.1 to 1,015.8 points. The roublebased MOEX Russian index was 0.8 higher at 2,804.0 points.

Shares in retailer Magnit were down 0.6 after leaping to a more than sevenmonth high in early trade….

Leave A Comment