financetom
Market
financetom
/
Market
/
Russian rouble strengthens vs dollar on higher oil
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Russian rouble strengthens vs dollar on higher oil
Feb 11, 2025 2:22 AM

MOSCOW, Feb 11 (Reuters) - The Russian rouble

strengthened against the dollar and the Chinese yuan on Tuesday

with analysts saying that higher prices for oil and increased

forex sales by the central bank supported the Russian currency.

At 1000 GMT, the rouble was up 0.8% at 95.90 against

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

The rouble weakened 0.9% to 12.99 against China's yuan on the

Moscow Stock Exchange (MOEX).

"The rouble has significantly strengthened amid the increase

in oil prices," Gazprombank analysts said. Oil prices extended

gains on Tuesday on concerns over Russian and Iranian oil

supply.

The rouble has strengthened by about 14% against the dollar

this year despite new U.S. energy sanctions, mainly on

expectations of easing tensions in the longer term between

Russia and the United States.

Reduced demand for the foreign currency from importers as

well as from a 17% increase in sales of the Chinese yuan by the

central bank as part of forex interventions also supported the

rouble.

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

as a guide for the over-the-counter exchange rate, were down

0.7% to 97.28. The Russian central bank set the official

exchange rate at 96.78.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Futures stall as investors await inflation data
Futures stall as investors await inflation data
Dec 10, 2024
(Reuters) - U.S. stock index futures were subdued on Tuesday as investors refrained from placing big bets ahead of a crucial inflation report this week that could influence the Federal Reserve at its monetary policy meeting this month. A November reading of the consumer price index (CPI), due on Wednesday, is among the last major datasets ahead of the Fed's...
US STOCKS-Futures stall as investors await inflation data
US STOCKS-Futures stall as investors await inflation data
Dec 10, 2024
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) * Futures: Dow down 0.04%, S&P 500 off 0.03%, Nasdaq up 0.01% Dec 10 (Reuters) - U.S. stock index futures were subdued on Tuesday as investors refrained from placing big bets ahead of a crucial inflation report this week that...
Futures stall as investors await inflation data
Futures stall as investors await inflation data
Dec 10, 2024
(Reuters) - U.S. stock index futures were subdued on Tuesday as investors refrained from placing big bets ahead of a crucial inflation report this week that could influence the Federal Reserve at its monetary policy meeting this month. A November reading of the consumer price index (CPI), due on Wednesday, is among the last major datasets ahead of the Fed's...
SoFi Stock Falls After BofA Downgrade Over Valuation Concerns: Here's What Technical Analysis Shows
SoFi Stock Falls After BofA Downgrade Over Valuation Concerns: Here's What Technical Analysis Shows
Dec 10, 2024
SoFi Technologies Inc. ( SOFI ) stock closed 2.81% lower at $15.57 apiece on Monday and fell further by 0.5% in premarket trading on Tuesday. This comes after Bank of America Securities downgraded the scrip due to valuation concerns. However, technical analysis based on the simple moving averages points to a different story for the stock. What Happened: BofA Securities...
Copyright 2023-2026 - www.financetom.com All Rights Reserved