Why Did The Russian Rouble Price Fall Against The Dollar

why did the russian rouble price fall against the dollar

Ruble Slows Rally vs. Dollar as Bank Rossii Sells Currency — Clearing and Settlement

The Russian ruble slowed its rally against the US dollar today on speculation the nation's central bank sold the currency. The ruble currently is above the opening price, indicating that it may yet continue its rally.

The Bank Rossii usually sells the nation's currency to keep it in the predetermined range, which is now at 32.20 to 38.20. The Russian currency was rising for nine consecutive sessions and appreciated 3.4 percent against the dollar-euro basket. That was the longest rally since March 2008. Analysts say that the slowdown is likely just a minor correction after the long streak of gains and it's a good time to buy the currency.

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