MOSCOW: The Russian rouble firmed against the US dollar and China’s yuan on Friday, although analysts cited a lack of major factors to influence the currency in either direction.
At 0830 GMT, the rouble had strengthened 0.8% to trade at 99.02 to the dollar, according to over-the-counter market data. Meanwhile, the rouble was 0.4% firmer against China’s yuan, trading at 13.50 on the Moscow Stock Exchange (MOEX).
“Overall, the situation in the forex market is uncertain and close to a balance. There are no drivers for strong moves in either direction,” analysts at Alor brokerage said.
The rouble has been mostly strengthening over the past week, with state forex sales and market optimism about an easing of Russian tensions with the West offsetting the negative impact of US energy sanctions.
One-day dollar/rouble futures, which trade on MOEX and serve as a guide for the over-the-counter exchange rate, were up 0.4% at 101.5. The Russian central bank set the official exchange rate at 99.10.
Comments
Comments are closed.