• ACI Russia

08/26/1998 09:57:37 RUSSIA ROUBLE SLIDES 69 PCT TO FIX OF 7.6000 TO MARK INMOSCOW (4.4995 ON TUES)

Обновлено: 28 авг. 2018 г.

MOSCOW, Aug 26 (Reuters) - The Russian rouble slid 69

percent against the mark in thin trade on Wednesday, fixing at

7.6000 roubles per mark on the Moscow Interbank Currency

Exchange (MICEX) versus 4.4995 roubles to the mark on Tuesday.

Earlier, MICEX suspended rouble-dollar trade after the

rouble fell five percent against its previous dollar fix,

triggering automatic circuit breakers.

The rouble has come under increasing pressure after former

prime minister Sergei Kiriyenko, dismissed on Sunday, gave up

the fight to hold it within an earlier target trading band which

had a stronger rouble-dollar rate.

The outgoing government also declared a 90-day moratorium on

some foreign debt and suspended trade in domestic government

debt pending the restructuring of short term treasury bills

(GKOs) and government bonds (OFZ).

Investors say the moves amount to effective devaluation of

the rouble and default on debts.

((Moscow Newsroom, +7095 941-8520


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