Russian rouble falls to 2-week low vs dollar

Leaders of the Group of Seven (G7) nations plan to tighten sanctions on Russia at their summit in Japan this week, with steps aimed at energy and exports aiding Moscow's military effort in Ukraine, officials with direct knowledge of the discussions said. Russia's budget deficit, which stood at $44 billion for January to April and already above the government's plan for 2023 as a whole, is putting pressure on the rouble. Russian stock indexes were higher. The dollar-denominated RTS index was up 0.1% to 1,038.4 points.

The Russian rouble weakened past 80 against the dollar for the first time in two weeks on Tuesday, hampered by the reduced supply of foreign currency amid the promise of new sanctions against Moscow and last week's weak macroeconomic data. At 0806 GMT, the rouble was 1.1% weaker against the dollar at 79.99, earlier hitting 80.2525, its lowest point since May 2.

It had lost 0.9% to trade at 87.16 versus the euro and had shed 0.8% against the yuan to 11.47 . Leaders of the Group of Seven (G7) nations plan to tighten sanctions on Russia at their summit in Japan this week, with steps aimed at energy and exports aiding Moscow's military effort in Ukraine, officials with direct knowledge of the discussions said.

Russia's budget deficit, which stood at $44 billion for January to April and already above the government's plan for 2023 as a whole, is putting pressure on the rouble. Russia is spending heavily as energy revenues nosedive. The country's current account surplus is also narrowing rapidly.

Brent crude oil, a global benchmark for Russia's main export, was up 0.5% at $75.57 a barrel. Russian stock indexes were higher.

The dollar-denominated RTS index was up 0.1% to 1,038.4 points. The rouble-based MOEX Russian index was 1% higher at 2,637.6 points. For Russian equities guide see

For Russian treasury bonds see

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