Home World News Russian rouble recovers some ground after sell-off on geopolitics

Russian rouble recovers some ground after sell-off on geopolitics

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  • Rouble recovering after sharpest drop in 15 months
  • East-West tensions reduce appetite for Russian assets
  • Currency plunged more than 2% to 76.62 vs dollar on Thursday
  • Rouble hit close to six-month low vs euro in previous session

MOSCOW, Jan 14 (Reuters) – The Russian rouble firmed on Friday, recovering some ground after a massive sell-off in the Russian market on fears over an escalation of geopolitical tensions between Moscow and the West.

By 0755 GMT the rouble was 0.6% stronger against the dollar at 75.79 after losing more than 2% of its value in the previous session.

Against the euro, the rouble gained 0.5% to 86.90 after sliding from about 85.23 on Thursday to its weakest in almost six months.

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The rouble retains fundamental support from a strong current account surplus and high interest rates at home, but adverse geopolitical factors are the more dominant driver.

On Thursday the rouble suffered…

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