Mosco: In today's tumultuous market, the Russian Rouble is slipping back towards record lows. The rouble fell to new lows versus the dollar and the euro in volatile Moscow trade on Friday, after S&P downgraded Russia's credit rating to junk status and failed to reach an agreement on the Ukraine conflict.
As international sanctions increased the possibilities of a default, S&P reduced Russia's rating less than a week after it was downgraded from investment grade. On Thursday, there were hints of fragile movement in Russia-Ukraine talks, with the two countries agreeing on the necessity for humanitarian corridors to assist people fleeing Russia's incursion, but no substantial conclusion.
Meanwhile, investors were alarmed to learn that a facility at a Ukrainian nuclear site had been set ablaze during severe combat. The fire was put out later, and officials reported the plant was back up and running. In a research report, BCS Global Markets wrote, "Uncertainty lingers As the negotiations thus far have failed to yield a breakthrough."
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