- Global sanctions and Ukraine crisis tumbles Ruble
- RUB to EUR pair on track to its biggest weekly loss
- Germany exports shrunk
- Euro tumbles as demand for risk assets diminishes
The RUB to EUR pair was seen trading on Friday morning trade within a trading range of 0.008103 and 0.008867 high of the day. During yesterday’s trading session the pair tumbled -6.98% to 0.008183. Global sanctions, domestic challenges and the Ukraine crisis continue to negatively weigh in on the Russian Ruble.
At 09:53 UTC, RUB/EUR trades up +0.75% at 0.008244.
The Russian ruble continues to hovers near-record low prices against the Euro. Under pressure from western sanctions and uncertainty over Russia’s week-old invasion of Ukraine, the demise of the Ruble persists as trading gets halted over the weekend.
The RUB to EUR pair is on track to post its biggest weekly loss in history. Since the start of the week, the Russian ruble tumbled over -22.0% against its counterpart Euro.
Elsewhere, Germany’s trade balance shrunk by -2.5% in January compared to a 1.2% increase in December. Germany’s exports can’t shrug off COVID-related restrictions and supply chain issues which severely impacted foreign trade.
The Federal Statistical Office in Germany also reported that the trade balance recorded a surplus of USD 9.4 billion in January, compared with a surplus of USD 8.1 billion in the last month of 2021.
The Euro tumbled to a new 22-month low against the Euro at 1.1008 against the greenback.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
