NEW YORK (Reuters] – Russian currency bonds plunged sharply after last week’s steep gains. The Russian finance ministry had said that it has made past due payments, which threatened to put the country in default.

Russia’s finance ministry announced Friday that it was able to pay in U.S. Dollars $564.8 Million in interest on 2022 bonds and $84.4 Million on 2042 bonds, even though they had promised to do so in rubles.

Foreign bonds of the government are still in deep trouble, and most trade below 30 cents per dollar.

An obligation bond that matures in 2026 and has due payment on May 27, 2018, was 5 cents lower at 28 after rising 13 cents last Friday.

After rising from 14.5 to 29 cents Friday, the 2029 bond fell 7 cents and now stands at 22 cents. In September, the next coupon payment on this bond will be due.

Russian (default) roulette https://tmsnrt.rs/39qVubj

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