The Russian rouble skids more than 2% against the US dollar on Friday, April 7, to an intraday low of 83.50, its weakest since April 2022.
– late last year, since which the rouble has weakened from about 60 per dollar to more than 80 this week.
The reported transfer of $1.21 billion to Shell for its stake in the Far East Sakhalin-2 gas project was cited by traders as a major factor on Friday, as the daily trade in the rouble-dollar pair is now usually only about $1 billion, down from more than $3 billion a day before the war. The trader said the market expected the rouble to strengthen against the dollar in coming days and weeks as Russian companies buy roubles for tax payments and on the back of higher oil prices.
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