The Russian ruble bounced off four-week highs against the dollar on Friday, pressured by globally increased risk aversion that outweighed support from higher oil prices.

The currency shed 0.2 per cent to 59.36 against the dollar at 0723 GMT, heading away from the 58.99 it touched the day before, its strongest level since July 21.

“The currency made a successful attempt to break the 59.00 handle, but failed to consolidate below it as global risk sentiment weakened in the evening,” VTB Capital said in anote.

Global risk-off sentiment gained momentum after the attack that killed 13 people in central Barcelona on Thursday evening.

Versus the euro, the rouble was 0.6 per cent weaker at 69.81 .

Brent was headed for almost N53 dollars on Monday.

Risk aversion added to the customary inclination among players on Fridays to minimise exposure to the market they carry over the weekend.

The dollar-denominated RTS index dropped 0.8 percent to 1,026.5 points, while the rouble-based MICEX was 0.3 lower at 1,935.8 points.

Get more stories like this on Twitter

AD: To get thousands of free final year project topics and other project materials sorted by subject to help with your research [click here]

More Stories