As the dollar strengthens in a context marked by the start of the conversion of certificates of deposit, the South African rand is weakening and the ruble is falling to over 61.

The conversion of Russian companies' certificates of deposit into local shares has begun and foreign investors from countries designated as “friends” have been able to return on the bond market. Thus, the ruble slipped beyond 61 to one dollar. At 0757 GMT, the ruble was 1% weaker against the dollar at 61.25, remaining within a narrow range between 59.45 and 61.45 for the tenth consecutive trading session. It fell by 0.4% to 62.57 against the euro.

The South African rand, on the other hand, was weaker in the morning exchanges. At 06:10 GMT, the rand was trading at 16.2500 against the dollar, down more than 0.3% from its previous close. The dollar was up around 0.1% against a basket of currencies, with traders evaluating belligerent comments from Federal Reserve officials against signs that American inflation may have peaked.