简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The Russian rouble stabilised near 60 against the dollar on Thursday, lacking new momentum, while shares in TCS, owner of Russia’s Tinkoff Bank, and retailer M.Video-Eldorado fell after earnings reports.
Rouble volatility has subsided after wild swings that saw it hit a record low of 121.53 to the dollar in Moscow trade in March, soon after Russia sent tens of thousands of troops into Ukraine. It then rallied to a seven-year peak of 50.01 in June.
Year-to-date, the rouble has become the world‘s best-performing currency as a result of capital controls and strong prices for Russia’s exports, such as oil and natural gas.
High energy prices have also helped Russias economy avoid the meltdown that many experts predicted but hardships are still emerging for some Russians.
High inflation dents living standards of Russian households whose inflation expectations have increased despite a weekly decline in the consumer price index in the past seven weeks.
On the stock market, the dollar-denominated RTS index rose 0.6% to 1,189.2 points and the rouble-based MOEX Russian index was 0.3% higher at 2,255.4 points.
Shares in M.Video-Eldorado underperformed the market and fell 2.2% after the company reported a widening net loss for the first half of 2022, as it saw dramatic shifts in the macroeconomic landscape and consumer sentiment.
Moscow-traded depository receipts in TCS shed 0.6%, extending Wednesdays losses after the group said its first-half net profit dropped to a five-year low, hit by higher funding costs and conservative provisioning.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Forex cards enable you to make seamless transactions in foreign currencies when travelling abroad. Check out this guide to learn the benefits of forex cards in detail.
Explore this story where we have highlighted how fake forex brokers use mule accounts to dupe investors.
Attention investors and traders! If you want to invest in the forex market, be careful not to choose these scam brokers. This warning list is issued by the Financial Conduct Authority.
Scam brokers involved in the forex market who act genuine in the beginning but turn out to be frauds in the end. Choosing UbitMarkets could lead you to serious losses. Check out this article to know why we’re saying this.