MOSCOW: The Russian rouble weakened slightly against the dollar but strengthened against the yuan on Wednesday, the first day of increased net daily sales of the Chinese currency by the finance ministry and the central bank.

By 0820 GMT, the rouble was 0.6% lower at 86.00 against the dollar.

Against the yuan, which had become the most traded foreign currency in Moscow even before the latest sanctions were imposed, the rouble was up 0.6% at 11.78, according to an analysis of the over-the-counter market.

Russian rouble mostly unchanged against US dollar

Trading in major currencies shifted to the over-the-counter market, obscuring pricing data, after Western sanctions on the Moscow Exchange and its clearing agent, the National Clearing Centre, were introduced on July 12.

The rouble was flat at 93.64 against the euro. Brent crude oil, a global benchmark for Russia’s main export, was up 0.7% at $76.66 a barrel on mounting concerns over Middle East supply.