The Russian rouble struck its weakest mark since late April on Tuesday, hurt by lower foreign currency revenue inflows from hydrocarbon exports and a continued recovery in imports as companies build new supply chains.
By 1005 GMT, the rouble was 0.1% weaker against the dollar at 73.93, having hit 73.9850 during the session, its lowest point since April 25. The Russian currency lost 0.6% to trade at 79.52 versus the euro and shed 0.3% against the yuan to 10.83 .
The rouble’s weakening from around the 68 mark to the dollar in mid-January to current levels can be explained mainly by foreign exchange market dynamics and imports, Alfa Capital analysts said. Some Russian exporters have been exempt from having to sell foreign exchange revenues for roubles under inter-government agreements since Feb. 6, in a slight easing of the capital controls that supported the rouble throughout 2022.
“According to many indirect signs, one can see the…
