The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Can Russia’s rouble swim against the falling tide of EM currencies?

With new US sanctions looming over Russia and the effects of higher oil prices largely already priced in, will the Russian rouble sink or swim as we approach the end of 2018?

By: Anna Fedorova

Over the last three months, the Russian rouble has outperformed many emerging market currencies, buoyed by rising oil prices and an accommodative central bank, but it continues to suffer under the pressure of potential fresh US sanctions against Russia.

A fresh round of sanctions could block US imports of Russian oil and ban international bank loans to the country, and could come in as early as next month, according to reports. Earlier this year, the US initiated a first round of sanctions that stopped the sale of arms and exports of national security-sensitive goods and technology to Russia.

Yet, the currency has held up better over the last quarter than some of its EM counterparts, falling just 5.2% against the US dollar, according to JPMorgan, and outperforming the Turkish lira (-17.9%),

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of acces below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£68.33 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree