Russian Rouble Rallies to March 2018 Level Against Dollar

Jumat, 20 Mei 2022 | 15:54 WIB
Russian Rouble Rallies to March 2018 Level Against Dollar
[ILUSTRASI. A man uses his smartphone near a board showing currency exchange rates of U.S. dollar against the Russian rouble in Saint Petersburg, Russia February 28, 2022. REUTERS/Anton Vaganov]
Reporter: Sumber: Reuters | Editor: Thomas Hadiwinata

KONTAN.CO.ID - May 20 (Reuters) - The Russian rouble gained more than 7% against the dollar on Friday, hitting levels last seen in March 2018, boosted by capital controls and domestic tax payments that usually lead to increased demand for the currency.

The rouble has firmed by nearly 30% so far this year, despite a full-scale economic crisis, becoming the best-performing currency, artificially supported by controls imposed in late February to shield Russia's financial sector after it sent tens of thousands of troops into Ukraine.

At 0807 GMT, the rouble was at 58.90 against the dollar in volatile trade on the Moscow Exchange, after hitting 57.0750, a level last seen in late March 2018.

Baca Juga: Gold Jumps 1.5% as Dollar, Yields Retreat

Against the euro, the rouble firmed by more than 5% to 60.86 after touching 59.02, its highest since June 2015.

The rouble is driven by export-focused companies that are obliged to convert their foreign currency revenue after Western sanctions froze nearly half of Russia's gold and forex reserves. "Exporters are forced to sell (foreign currency) and there is no one to buy it," a trader at an investment company in Moscow said.

Preparations for month-end taxes also boost demand for roubles, while demand for dollars and euros remains low due to disrupted imports chains and restrictions on withdrawing foreign currency from bank accounts and moving it out of Russia. "The key question is whether the central bank will step in as the excessive rouble firming is not in the finance ministry's and budget' plans," Evgeny Suvorov, an analyst at CentroCreditBank, said.

Kirill Tremasov, the head of the central bank's monetary policy department, said on Friday that the rouble remained a free-floating currency, RIA news agency reported.

The central bank declined to comment on the rouble rate.

Outside the Moscow Exchange, the rouble remained much weaker. Sberbank, Russia's largest lender, was selling cash dollars for 67.17 roubles and euros for 69.84 roubles.

The stronger rouble helps to put brakes on inflation and is beneficial for importers but hurts exporters who sell goods and services abroad for foreign currency, meaning reduced incomes for Russia's export-dependent budget.

Baca Juga: Cost of Living in Focus as Australia's Election Race Hits Final Stretch

Analysts say Russian authorities are not interested in a substantial rouble strengthening from current levels and expect the currency to weaken by the year-end.

In a sign that authorities are ready to gradually lift capital controls, the central bank allowed banks to sell citizens foreign currency without any restrictions from May 20, with the exception of U.S. dollars and euros.

Meanwhile, Russian stock indexes were mixed on Friday.

The dollar-denominated RTS index jumped 4.8% to 1,305.9 points. The rouble-based MOEX Russian index was 1.3% lower at 2,405.7 points, pressured by the rouble appreciation.

Bagikan

Berita Terbaru

Menakar Prospek Saham BBCA di Tengah Penurunan BI Rate
| Kamis, 18 September 2025 | 18:03 WIB

Menakar Prospek Saham BBCA di Tengah Penurunan BI Rate

Fundamental yang kuat disertai dengan tata kelola perusahaan yang baik, menyebabkan banyak investor masih meyakini saham BBCA cukup baik ke depan.

Pemerintah Siap Kucuri Dana Ke Koperasi Merah Putih, 20.000 Koperasi Bakal Kebagian
| Kamis, 18 September 2025 | 16:23 WIB

Pemerintah Siap Kucuri Dana Ke Koperasi Merah Putih, 20.000 Koperasi Bakal Kebagian

Menteri Koperasi Ferry Juliantono menjelaskan saat ini sudah terdapat 1.064 Kopdes Merah Putih yang telah menyerahkan proposal pinjaman.

Beleid Co-Payment Siap Rilis Lagi, Besarnya 5% dan Ganti Nama Jadi Re-Sharing
| Kamis, 18 September 2025 | 15:30 WIB

Beleid Co-Payment Siap Rilis Lagi, Besarnya 5% dan Ganti Nama Jadi Re-Sharing

Perusahaan asuransi wajib menyediakan produk tanpa fitur pembagian risiko, tapi juga diperbolehkan menawarkan produk dengan skema re-sharing.

Pemerintah Mengubah Postur Anggaran, Defisit Kian Lebar dan Transfer ke Daerah Naik
| Kamis, 18 September 2025 | 15:19 WIB

Pemerintah Mengubah Postur Anggaran, Defisit Kian Lebar dan Transfer ke Daerah Naik

Banggar DPR RI bersama pemerintah telah menyetujui perubahan postur RAPBN 2026. Pendapatan, belanja, dan defisit disesuaikan.

Harga Saham BBRI Kembali ke Jalur Menanjak Seiring Akumulasi Blackrock dan JP Morgan
| Kamis, 18 September 2025 | 08:38 WIB

Harga Saham BBRI Kembali ke Jalur Menanjak Seiring Akumulasi Blackrock dan JP Morgan

Pertumbuhan kredit Bank BRI (BBRI) diproyeksikan lebih bertumpu ke segmen konsumer dan korporasi, khususnya di sektor pertanian dan perdagangan. 

Investor Asing Pandang Netral ke Perbankan Indonesia, BBCA, BMRI, & BBRI Jadi Jagoan
| Kamis, 18 September 2025 | 07:55 WIB

Investor Asing Pandang Netral ke Perbankan Indonesia, BBCA, BMRI, & BBRI Jadi Jagoan

Likuiditas simpanan dan penyaluran kredit perbankan yang berpotensi lebih rendah sepanjang tahun ini jadi catatan investor asing.

Menanti Tuah Stimulus Saat Ekonomi Masih Lemah
| Kamis, 18 September 2025 | 07:19 WIB

Menanti Tuah Stimulus Saat Ekonomi Masih Lemah

Meski berisiko, penempatan dana ini bisa jadi sentimen positif bagi saham perbankan, karena ada potensi perbaikan likuiditas dan kualitas aset.

JITEX Bidik Transaksi Rp 14,9 Triliun
| Kamis, 18 September 2025 | 07:15 WIB

JITEX Bidik Transaksi Rp 14,9 Triliun

JITEX 2025 diikuti  335 eksibitor dan 258 buyer. Tahun ini kami menghadirkan buyer internasional dari sembilan negara dan lebih banyak investor

 Pengusaha Minta Setop Impor Baki Makan Bergizi
| Kamis, 18 September 2025 | 07:12 WIB

Pengusaha Minta Setop Impor Baki Makan Bergizi

Kapasitas produksi dalam negeri dinilai mampu memenuhi kebutuhan food tray program MBG. sehingga tidak perlu impor

Progres Proyek LRT  Fase 1B Capai 69,88%
| Kamis, 18 September 2025 | 07:00 WIB

Progres Proyek LRT Fase 1B Capai 69,88%

Pada Zona 1, yakni Jl. Pemuda Rawamangun dan Jl. Pramuka Raya, progres pembangunan telah mencapai 69,06%

INDEKS BERITA

Terpopuler