Arab Today, arab today russia\s ruble hits 4 year low against euro
Last Updated : GMT 19:48:50
Arab Today, arab today
Arab Today, arab today

Russia\'s ruble hits 4 -year low against euro

Arab Today, arab today

Arab Today, arab today Russia\'s ruble hits 4 -year low against euro

?Moscow - AFP

Russia\'s ruble hit a four-year low point against the euro on Thursday amid signs of the US Federal Reserves preparing to ease back on a stimulus programme that has helped emerging markets. The Russian currency fell to 44.33 roubles against the euro early on Thursday -- a level not seen since 2009 -- before gaining back some strength and trading at 44.27 in midafternoon. It also exchanged hands near a month-old low against the dollar at 33.16 rubles. The ruble has lost value along with other emerging market currencies on the belief that the Federal Reserve will soon scale back its monthly $85-billion bond purchasing programme. A statement of the Federal Reserve issued on Wednesday indicated that some board members believed that the easing programme should be rolled back quickly while other stressed \"the importance of being patient\". A rollback of the stimulus programme would theoretically raise the yields of US bonds and draw in investors who had previously searched for value in riskier economies. The Russian central bank\'s overseer of financial markets dismissed speculation that the ruble would continue a steady decline reminiscent of what occurred in the 2008-2009 global financial crisis. \"The ruble is fairly strong and stable,\" the Prime news agency quoted Sergei Shevtsov as saying. \"Rumours about the weakening of the ruble are being exaggerated by a fair amount.\" The Russian central bank has spent hundreds of millions of dollars daily purchasing rubles in the summer months to prop up the currency and avoid a politically-damaging slide. But Interfax estimated that the ruble between January and July still lost 8.7 percent of its value against the mixed-basket of dollars and euros used by the central bank to gauge the value of its currency. Shevtsov argued that the ruble was only \"fluctuating (in value) because we are moving toward a free-float.\" The London-based Capital Economics consultancy noted that the ruble has faired better than the currencies of emerging markets in Asia thanks to the high price on Russia\'s oil and natural gas exports. \"Nonetheless, the ruble is still weaker than the usual relationship with oil prices would otherwise imply,\" Capital Economics added. \"We expect the currency to weaken further over the coming months and quarters.\"  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia\s ruble hits 4 year low against euro Arab Today, arab today russia\s ruble hits 4 year low against euro

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday