Rouble near record lows in volatile trade

MOSCOW: The rouble traded near record lows against the dollar and euro in volatile Moscow trade on Friday, after Russia's credit rating was cut deeper into junk by S&P and talks over the war in Ukraine failed to reach a breakthrough.

S&P cut Russia's rating less than a week after dropping it from investment grade, as international sanctions ramped up the chances of a default.

There were signs of tentative progress in talks between Russia and Ukraine on Thursday, with the countries agreeing on the need for humanitarian corridors to help civilians escape Russia's invasion, but no major resolution, Reuters reported.

Meanwhile news that Russia had seized a large Ukrainian nuclear power plant put investors on edge.