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Russian rouble weakens vs US dollar after gaining 14% since start of 2025
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Russian rouble weakens vs US dollar after gaining 14% since start of 2025
Feb 9, 2025 11:53 PM

MOSCOW, Feb 10 (Reuters) - The Russian rouble weakened

against the U.S. dollar and China's yuan on Monday after gaining

14% against the dollar since the start of the year and analysts

it was less likely to strengthen further.

At 0730 GMT, the rouble was down 0.6% at 97.60

against the dollar, according to data from the over-the-counter

market. The rouble weakened 0.3% to 13.28 against China's yuan

on the Moscow Stock Exchange (MOEX).

The rouble has strengthened by 14% against the dollar so far

this year despite new U.S. energy sanctions, on expectations of

easing tensions in the longer term between Russia and the United

States and less demand for foreign currency from importers.

"Although the domestic market continues to exploit the

theme of potential reduction in geopolitical risks, the chances

of achieving stronger levels for the rouble exchange rate are

more likely decreasing," said Denis Popov from PSB bank.

The rouble also received support from a 17% increase in

sales of the Chinese yuan by the central bank that took effect

on February 7. The regulator intervenes on the forex market to

ensure there is enough liquidity.

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

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

98.80. The Russian central bank set the official exchange rate

at 97.28.

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