Russian rouble, stockmarket to new low
Russia’s MICEX Index yesterday fell to its lowest level since September 2006 and rouble dropped to its lowest in seven month against the dollar, the Moscow Times reports. Several analysts now say that Russia now is one of the most risky investment markets.
The falls show a shaky Russian financial market, the newspaper writes. The RTS has fallen 6,1 percent since Monday, and MICEX 5.8 percent. Meanwhile, the rouble sank as much as 1,3 percent against the dollar, and was down 0.6 percent against the dollar/euro basket when the stock markets closed. The negative trend might not last long however. Russian Fitch ratings agency said Tuesday that tensions with the West could damage foreign investor sentiment toward Russia but that they did not immediately threaten the country’s sovereign rating.
