Russian rouble slides past 58 vs dollar to 3week low
Rouble nears 60 vs euro, also hitting 3week low
Rusal shares jump on merger talk with Nornickel
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MOSCOW, July 5 Reuters The rouble tumbled to a threeweek low on Tuesday, sliding past 58 to the dollar, while shares in aluminium producer Rusal leapt as Russian businessman Vladimir Potanin hinted at a possible merger with mining giant Nornickel.

Investors were looking for clues on when Russia may intervene in the currency market, something Finance Minister Anton Siluanov said Russia could turn to as it tries to keep a lid on the rouble39;s strengthening.

The central bank did not immediately respond to a request for comment on what caused the rouble39;s sharp drop on Tuesday.

The finance ministry said it did not plan to use extra budget revenues to buy foreign currency or gold, as it eyed increased budget revenues this month thanks to higher oil prices. read more

By 0904 GMT, the rouble was 5.4 weaker against the dollar at 58.18 , its weakest point since June 14. The unit had lost 3.5 to trade at 59.77 versus the euro , earlier slipping to a threeweek low of 59.95.

The rouble39;s recent slump from more than sevenyear highs hit last Wednesday is just a correction on the market, said Alor Broker in a note.

It is too early to talk about a break in the rouble39;s strengthening trend, Alor Broker analysts…