Russian Ruble At 4-week Low Against US Dollar
12 August 2009 - 7:29AM
RTTF2
The Russian ruble that plunged to a 4-week low of 32.3645
against the US dollar in early trading on Tuesday leveled off in
early New York trading. The greenback-ruble pair, which closed
yesterday's deals at 31.877, is presently quoted at 32.25 with
33.13 seen as the next target level.
Traders pondered over the Russia's Federal State Statistics
Service report showing that the Russian gross domestic product or
GDP dropped 10.9% year-over-year in the second quarter, compared to
the 9.8% fall in the first quarter. Sequentially, the GDP increased
7.5% in the second quarter.
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