Russian Ruble Falls To 4-day Low Against U.S. Dollar After Russia Decision
February 07 2020 - 2:39AM
RTTF2
The Russian Ruble declined against the U.S. dollar in the
European session on Friday, after Russia's central bank lowered its
key interest rate, as widely expected.
The Board of Directors, led by Governor Elvira Nabiullina,
decided to cut the key rate by 25 basis points to 6.00 percent, the
Bank of Russia said in a statement.
Policymakers said inflation slowdown is overshooting the
forecast. Disinflationary risks still exceed pro-inflationary risks
over the short-term horizon, the bank said.
The Russian Ruble dropped to a 4-day low of 63.96 against the
greenback from yesterday's closing value of 63.31. If the Russian
currency drops further, 68.00 is likely seen as its next support
level.
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