MOSCOW, Dec 17 (Reuters) - The Russian rouble steadied
above 100 to the U.S. dollar on Tuesday as the international
payments situation stabilised following the imposition of U.S.
financial sanctions last month.
By 0840 GMT, the rouble was flat at 104.50 against
the dollar, according to over-the-counter market data from
banks. The rouble weakened by 0.7% to 13.96 against the yuan in
trading on the Moscow Stock Exchange.
The rouble fell by as much as 15% against the dollar after
U.S. sanctions hit Russia's third-largest lender Gazprombank,
which handled payments for Russian energy. The sanctions
prompted panic buying of foreign currency.
The rouble has since regained some of the lost ground and
stabilised above 100 to the dollar, seen by the market as the
new equilibrium level, at which the Russian currency could
remain for some time provided there are no new external shocks.
The market was expecting support for the rouble from
increased foreign currency sales by exporting companies, which
need to buy roubles at the end of the month to make their
corporate tax payments.
One-day rouble/dollar futures, which trade on the Moscow
Stock Exchange and are a guide for the over-the-counter exchange
rate, were flat at 102.96. The Russian central bank set an
official exchange rate at 102.91 to the dollar.