Russian Ruble Slides To 11-day Low Versus Dollar
02 September 2009 - 12:30AM
RTTF2
After a slight strength in early European session, the Russian
ruble edged down against the US dollar during New York trading on
Tuesday. At 1:40 pm ET, the ruble slipped to 31.9480 versus the
greenback from Monday's close of 31.7680. This set the lowest mark
for the ruble since August 21, 2009. The Russian currency has been
in a downward channel against the greenback for the past 1
week.
Russia's manufacturing sector continued to improve in August, a
report by the VTB Capital said on Tuesday. The Manufacturing
Purchasing Managers' Index or PMI increased to a 11-month high of
49.6 in August from 48.4 in July. But it was still below the
neutral 50.0 mark.
A reading above 50 indicates expansion, while a reading below 50
signals a contraction.
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