Rouble bounces back from 9-month low; eyes on Kazakh unrest

  • 1/6/2022
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MOSCOW, Jan 6 (Reuters) - Russia"s rouble was volatile on Thursday and turned positive against the U.S. dollar after touching a nine-month low, while stocks and dollar bond prices fell in holiday-thinned trade, dragged down by unrest in neighbouring Kazakhstan. Kazakhstan is experiencing its worst unrest since independence in 1991, spurred initially by protests against gas price hikes. Crowds also accuse Nursultan Nazarbayev, 81, who has held on to power since Soviet days despite stepping down three years ago as president, of amassing vast wealth from oil and minerals for his family and allies while the nation of 19 million remained poor. read more On Thursday, Russia sent paratroopers there as part of an international force. Moscow said it would consult with Kazakhstan and allies on steps to support the Kazakh "counter-terrorist operation" and that the uprising was foreign-inspired. Neither Kazakhstan nor Russia provided evidence to support the assertion of foreign involvement. The rouble was up 0.5% against the dollar at 76.39 , having earlier touched a low of 77.345. Against the euro, it last added 0.5% to trade at 86.34 , after earlier touching a five-month low of 87.5. The rouble has been under pressure since October, as Western countries expressed concerns about Russia"s military build-up near Ukraine. Moscow has said it can move its army within its territory as it deems necessary. Britain warned Moscow on Thursday that it was working with Western partners on high-impact sanctions targeting Russia"s financial sector should it invade Ukraine. read more Brent crude oil , a global benchmark for Russia"s main export, was up nearly 2% on the day at $82.36 a barrel, the highest in six weeks. The dollar-denominated RTS equity index (.IRTS) fell 2.6% to 1,545.24 points. The rouble-based MOEX Russian index (.IMOEX) ended 1.6% lower at 3,753.29 points. Both indexes touched record highs in October. Russia"s dollar-denominated sovereign debt also fell, with bonds maturing in 20 years and over down more than one cent. The 2042 bond fell 1.3 cents to its lowest price since late May. Trading activity is expected to remain low until Jan. 10, the end of Russia"s New Year holidays. For Russian equities guide see For Russian treasury bonds see

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