The Russian rouble weakened on Tuesday, struggling to consolidate a slight recovery from last week's slide as the market comes to terms with the prospect of lower export revenue in the wake of restrictions on Russian oil.
The rouble lost about 8% against the dollar last week and is on course for a monthly decline after an oil embargo and price cap came into force. The finance ministry has said the recent slump was related to recovering imports.
"At the end of December, the rouble is likely to remain extremely volatile as the market will need to find a new equilibrium under changed trade flows and increased sanctions pressure," BCS World of Investments said in a note.Against the euro, the rouble lost 1.1% to 74.35 . Against the yuan, it was down 1.9% at 9.95 .major currency against the dollar this year, supported by capital controls and reduced imports.
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