USD/RUB around 68.00 post-CBR

By FXStreet FXStreet (Edinburgh) – The Russian ruble has resumed its downside vs. the greenback on Friday, now driving USD/RUB to the 68.00 neighbourhood.

USD/RUB higher after CBR decision

After historical lows near the 72.00 handle posted in August, RUB has managed to regain some ground towards the 64.00 mark late last month along with a recovery in crude oil prices. However, the re-emergence of the selling interest around the black gold prompted the Russian currency to depreciate further in recent weeks to the current 68.00-69.00 range.

Today’s decision of the CBR to leave rates unchanged at 11.0% was largely anticipated by market participants, passing almost unnoticed. The central bank reiterated its concerns over the impact of lower energy prices on domestic inflation figures and the economic growth.

USD/RUB relevant levels

The pair is now advancing 0.56% at 68.08 with the next hurdle at 68.57 (high Sep.9) followed by 69.32 (high Sep.7) and finally 69.96 (high Aug.26). On the other hand, a break below 67.25 (low Sep.11) would expose 66.45 (low Sep.4) and then 63.85 (low Sep.1).
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Source:: FX Street