Friday, June 9, 2023
HomeEconomyRuble steady near 60 to dollar; TCS, M.Video shares fall after results

Ruble steady near 60 to dollar; TCS, M.Video shares fall after results

MOSCOW (Reuters) – The Russian ruble steadied against the dollar on Thursday near 60, lacking fresh momentum, while the owner of the Russian ruble Shares of TCS Bank Tinkoff and retailer M.Video-Eldorado fell after the earnings report.

GMT 0718 GMT 77.60 down 0.4% against USD to .77 traded in Moscow exchanged in euros.

The volatility of the ruble has subsided after a wild swing, hitting a record of 121 all-time lows. 53 Dollar-to-dollar trades in Moscow in March, shortly after Russia sent tens of thousands of troops to Ukraine. It then rebounded to a seven-year peak of 01. June.

YTD, due to capital controls and Russian exports of commodities such as oil and natural gas .

high energy Prices have also helped the Russian economy avoid the collapse many experts predicted, but for some Russians difficulties are still emerging.

High inflation has lowered the living standards of Russian households despite spending the past seven weeks Consumer prices fell on a weekly basis, but their inflation expectations rose.

On the stock market, the U.S. dollar-denominated RTS index rose 0.6% to 1, 189.2 points, the ruble-based MOEX Russia rose 0.3% to 2, 255.4 points.

Shares of M.Video-Eldorado underperformed the market, falling 2.2% after the company reported a widening net loss For the first half of 2022, as it looked The macroeconomic landscape and consumer sentiment have shifted dramatically.

Moscow-traded TCS depositary receipts fell 0.6% after the group said its first-half net profit fell to a 5-year low , hit by higher funding costs and conservative provisions.



Please enter your comment!
Please enter your name here


Featured NEWS