Currency Note Worldwide

Rouble weakest in challenging day for emerging market currencies

By Ricky Bean May 20th, 2016

The Russian rouble was the worst performer yesterday as falling oil prices and pending interest rate hikes from the US Federal Reserve piled pressure on emerging markets. Sanctions over Russia’s handling of Ukraine has left it in the dark within Europe, which has made it heavily dependent on the Chinese economy for trade. Economists have suggested that a slowdown in the Chinese economy by 1% would affect the Russian’s by roughly 0.5%. The rouble fell over 2.5% against sterling yesterday, making it the best time to purchase the currency since the start of April.

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