Back
29 Dec 2014
RUB weakens by around 7% - TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team share that RUB weakened by around 7% on a decline in monthly GDP data for the first time since October 2009.
Key Quotes
“The RUB currency weakened in the session after the Economic Ministry confirmed that monthly GDP data saw its first annual decline since Oct 2009 (Nov GDP Y/Y: -0.5% vs. 0.0% prior). RUB currency (Ruble) weakened by approx 7% in session to test 58.00 level (**Note: last week's low was 52.00). Today is the last tax payment day for 2014 for Russian companies and reports that companies had already sold enough FX to cover taxes.”
“SNB stated that the CHF currency (franc) did not trade below the 1.2000 floor on Dec 25th, contrary to some reports, reaffirmed floor in cross was guaranteed at all times.”
Key Quotes
“The RUB currency weakened in the session after the Economic Ministry confirmed that monthly GDP data saw its first annual decline since Oct 2009 (Nov GDP Y/Y: -0.5% vs. 0.0% prior). RUB currency (Ruble) weakened by approx 7% in session to test 58.00 level (**Note: last week's low was 52.00). Today is the last tax payment day for 2014 for Russian companies and reports that companies had already sold enough FX to cover taxes.”
“SNB stated that the CHF currency (franc) did not trade below the 1.2000 floor on Dec 25th, contrary to some reports, reaffirmed floor in cross was guaranteed at all times.”