The rouble recovered from sinking to its lowest in nearly 15 months against the dollar on Monday, paring all intraday losses to strengthen as investors responded for the first time to an aborted mutiny by armed mercenaries in Russia over the weekend. Mercenaries led by Yevgeny Prigozhin withdrew from the southern Russian city of Rostov-on-Don … Read more
India is likely to take some more time to finalise a rupee-rouble payment mechanism to directly settle transactions because of the sharp volatility in the Russian currency and the fluid geopolitical situation. “We have discussed it… Our traders also don’t see any urgency in taking payments now and are comfortable allowing it to accumulate,” a … Read more
Russia and Russian companies will be allowed to pay foreign creditors in roubles, according to a decree signed by President Vladimir Putin on Saturday, as a way to stave off defaults while capital controls remain in place. The decree establishes temporary rules for sovereign and corporate debtors to make payments to creditors from “countries that … Read more