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Title: Russian rouble, stocks steady in face of global sell-off



Jun 15, 2022 06:36AM ET


By: AnalysisWatch


The Russian rouble remained unchanged on Wednesday, while equities gained in value as Moscow's capital controls protected them from the massive global sell-off of recent days.


At 1010 GMT, the rouble was unchanged against the dollar at 56.58 and gained 0.1% against the euro at 59.1.


The currency remains close to multi-year highs due to the growing surplus on the Russian current account and the capital controls imposed by Moscow following the imposition of Western sanctions to stop the massive selling of the rouble.


Russian stock market indices advanced in Moscow as they were insulated from the turmoil in world markets.


The dollar index of the RTS rose by 0.56% to 1,280.3 points. The Russian rouble-based MOEX index was up 0.52% at 2,301.7 points.


Russia's political and business elite gathered in St. Petersburg on Wednesday for the annual Russian Economic Forum.


This year's conference, once a symbol of the Kremlin's openness to international investment, includes panels addressing sanctions and the lack of Western companies.


Hundreds of companies have pulled out of Russia in response to Moscow's sending of tens of thousands of troops to Ukraine as part of a so-called special military operation.

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