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Russian rouble steadies near 100 against US dollar
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Russian rouble steadies near 100 against US dollar
Dec 25, 2024 1:46 AM

MOSCOW, Dec 25 (Reuters) - The Russian rouble held

steady near 100 to the U.S. dollar on Wednesday after

strengthening in five consecutive sessions as the market

adjusted to new U.S. financial sanctions imposed in November.

The rouble traded at 99.70 against the dollar by

0900 GMT, over-the-counter market data showed. The rouble

strengthened 0.7% to 13.60 against China's yuan in trading on

the Moscow Stock Exchange.

Analysts saw possibility for some weakening of the rouble

ahead of Russia's New Year break as some players were taking

profits on rouble positions and buying foreign currency in order

to have it in stock during the holiday period.

"The rouble has completed a strengthening wave, while

foreign currencies have plummeted to the target area with the

dollar below 100. Active traders prefer to take speculative

profits," BCS brokerage analysts said.

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 102.54. The Russian central bank set an

official exchange rate at 99.87 to the dollar.

(Reporting by Gleb Bryanski; Editing by Emelia

Sithole-Matarise)

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