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Russian rouble flat vs US dollar, China's yuan
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Russian rouble flat vs US dollar, China's yuan
Jan 16, 2025 2:31 AM

MOSCOW, Jan 16 (Reuters) - The Russian rouble held

steady against both the U.S. dollar and the Chinese yuan on

Thursday as increased forex sales and higher oil prices offset

the impact of U.S. energy sanctions.

The rouble traded at 102.60 to the dollar at 0945 GMT,

unchanged from the previous day, over-the-counter market data

showed. The rouble was flat at 13.83 against the yuan in trading

on the Moscow Stock Exchange (MOEX).

Under a complex scheme of market operations the central bank

buys and sells yuan, the only major foreign currency it can now

hold, increasing the net sales when necessary to ensure

sufficient supply of the currency on the market.

Net sales of the yuan by the central bank have increased by

almost one third since Jan. 15, providing support for the rouble

and countering the impact of the U.S. energy sanctions, imposed

last week.

Prices for oil, Russia's main export commodity, steadied on

Thursday a day after settling at multi-month highs.

One-day rouble/dollar futures, which trade on MOEX and are a

guide for the over-the-counter exchange rate, were also flat at

103.65. The Russian central bank set the official exchange rate

at 102.81.

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