Russian rouble falls back as oil renews retreat

MOSCOW, Jan 15 (Reuters): Russia's rouble weakened on Thursday as global oil prices resumed their slide and investors were nervous at the prospect of Russia being downgraded to 'junk' status.
At 0840 GMT the rouble was around 1 per cent weaker against the dollar at 65.43 and was also 1 per cent weaker against the euro at 77.08.
The rouble often takes its lead from prices for oil, one of Russia's chief exports, and Brent crude fell over 2 per cent on Thursday after strong gains on Wednesday.
"Yesterday's dynamics of the domestic currency market show the rouble is exclusively following prices for 'black gold' (oil), while other factors and threats have a secondary importance," analysts at Bank Zenit said in a note.
"The Finance Ministry's supportive rhetoric isn't having a noticeable effect on the rouble," the analysts wrote.