Yukos storm hits rouble

- By FX Markets Staff
- @FXMarkets_
- 03 Nov 2003

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But they were unsure on the extent of the future impact on the market as the motivations for the arrest remain unclear.

"There is volatility in the market as it tries to price the risk," said David Lubin, senior emerging markets economist at HSBC in London. But this is made more difficult "as we still don’t really know the Kremlin’s motivation."

Yukos shares fell by 15% on October 27 following the arrest, and the benchmark RTS index was down 20% by Thursday October 30. The rouble, which had

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