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Russian rouble strengthens ahead of Trump-Putin talks
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Russian rouble strengthens ahead of Trump-Putin talks
Mar 17, 2025 2:16 AM

MOSCOW, March 17 (Reuters) - The Russian rouble

strengthened on Monday ahead of an expected telephone

conversation between U.S. President Donald Trump and Russian

counterpart Vladimir Putin.

Trump said he planned to speak to Putin on Tuesday and

discuss ending the war in Ukraine, after positive talks between

U.S. and Russian officials in Moscow.

By 0840 GMT, the rouble was up 1.2% at 84.50 against

the dollar in over-the-counter market trade. It had reached

83.37, its strongest level since June 27, 2024, on March 14.

Against the Chinese yuan, the most traded foreign currency

in Russia, the rouble was up 2.0% to 11.56, also the highest

level since June 27, 2024, in trade on the Moscow Stock Exchange

(MOEX).

The rouble is up against the dollar this year, mostly thanks

to expectations of improved ties between Moscow and Washington.

Analysts said the rouble's rally was nearing its limit.

"The main positive factors for the rouble appear to have run

their course," said analysts from BCS brokerage, emphasising

that inflows of foreign currency are weakening, while imports

may increase in the coming weeks.

The currency's strengthening could have some bearing on the

central bank when it meets on March 21 to set interest rates,

currently at 21%.

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