UPDATE 1-Russian rouble slumps past 99 vs dollar to near seven-week low

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Jun 17, 2007
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The rouble slumped past 99 against the dollar to a near seven-week low on Monday, having now lost support of a favourable month-end tax period and remaining under pressure from Russia's shrinking current account surplus. The Russian currency tumbled past 100 to the dollar in mid-August, forcing the central bank into an emergency 350-basis-point rate hike and leading authorities to discuss the possibility of reintroducing controls to buttress the currency. At 1150 GMT, the rouble was 0.8% weaker against the dollar at 98.78, earlier hitting 99.1225, its weakest point since Aug. 15.
 
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