MOSCOW: The Russian rouble held steady against the US dollar on Thursday, strengthened against the euro and weakened against China’s yuan.
By 0730 GMT, the rouble was flat at 98.50 against the dollar.
It was 0.2% up against the euro at 103.85, according to LSEG data.
It weakened by 0.2% against the yuan to 13.62 in trade on the Moscow stock exchange.
The rouble has lost about 13% against the dollar since early September and briefly hit the 100 mark last week before stabilising around current levels.
Western sanctions imposed on the Moscow Exchange (MOEX) and its clearing agent, the National Clearing Centre, on June 12 stopped all trade in dollars and euros at MOEX, making the yuan the most-traded foreign currency in Russia.
Trade in dollars and euros has shifted to the over-the-counter (OTC) market, obscuring price data and making the rouble’s exchange rate more volatile.
Russian rouble flat against dollar
One-day rouble-dollar futures, which trade on the Moscow exchange and are a guide for OTC market rates, were up 0.2% at 98.69.
The central bank’s official exchange rate, which it calculates using OTC data, was last set at 98.37 to the dollar.
Brent crude oil, a global benchmark for Russia’s main export, was down 0.6% at $71.86 a barrel on fears of higher output.
Comments