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Russian rouble flat vs US dollar, weakens against yuan
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Russian rouble flat vs US dollar, weakens against yuan
Nov 15, 2024 1:00 PM

MOSCOW, Nov 14 (Reuters) - The Russian rouble held

steady against the U.S. 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.

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.

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