MOSCOW: The Russian rouble rose against the dollar and yuan on Tuesday as net daily sales of the Chinese currency by the finance ministry and the central bank were set to rise by 143% from Aug.7 from the previous month.
By 0730 GMT, the rouble was 1.1% higher at 84.50 against the dollar.
Against the yuan, which had already become the most traded foreign currency in Moscow before the latest sanctions were imposed, the rouble was up 0.4% at 11.80, according to an analysis of the over-the-counter market.
Trading in major currencies shifted to the over-the-counter market, obscuring the pricing data, after Western sanctions on the Moscow Exchange and its clearing agent, the National Clearing Centre, were introduced on July 12.
Rouble strengthens as Russia says oil price comfortable
The rouble was down 0.1% at 93.04 against the euro.
Brent crude oil, a global benchmark for Russia’s main export, was up 0.5% at $76.67 a barrel, reversing the previous session’s loss as concerns over an escalating Middle East conflict outweighed fears of a possible U.S. recession.
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