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Rouble strengthens against dollar on news of Russia-U.S. talks, up 15% this year
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Rouble strengthens against dollar on news of Russia-U.S. talks, up 15% this year
Feb 6, 2025 1:22 AM

MOSCOW, Feb 6 (Reuters) - The rouble strengthened

further against the U.S. dollar on Thursday on news about

possible talks between Russia and the United States on Ukraine,

bringing total gains in the Russian currency to 15% since the

start of the year.

At 0830 GMT, the rouble was up 1.3% to 97.70 against the

dollar, according to data from the over-the-counter market.

The rouble has been trading at around 97.00 to the dollar in a

sustainable way since October 2024.

The rouble weakened 0.5% against China's yuan on the Moscow

Stock Exchange (MOEX), after hitting 12.84, the strongest level

since September 16. The Russian currency is also up 5% against

the Chinese yuan since the start of the year.

"In Russia, they stress the lack of specifics regarding

steps to achieve a peace agreement, but also demonstrate a

willingness to engage in dialogue, which supports optimism in

the markets," said Elena Kozhukhova from Veles Capital

brokerage.

The rouble also received support from an announcement about

increased sales of the Chinese yuan by the central bank from

February 7. The regulator intervenes on the forex market to

ensure there is enough liquidity in the market.

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