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Russian rouble weakens vs US dollar, follows global forex market
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Russian rouble weakens vs US dollar, follows global forex market
Nov 12, 2024 2:00 AM

MOSCOW, Nov 12 (Reuters) - The Russian rouble weakened

against the U.S. dollar on Tuesday after an unexpected spike

during the Monday session, following the global currency market

where the dollar rose towards a four-month peak.

By 0930 GMT, the rouble was 2% weaker against the dollar

at 97.95, losing ground after strengthening 1.6% during

the Monday session, according to LSEG data.

The rouble weakened by 1.8% against the euro,

after strengthening by 2.2% during Monday's session, according

to LSEG.

The rouble strengthened by 0.2% to 13.41 against China's

yuan in trade on the Moscow stock exchange, with traders and

analysts saying that the yuan liquidity situation has been

improving following a shortage earlier in the year.

Western sanctions imposed on the Moscow Exchange (MOEX) and

its clearing agent, the National Clearing Centre, on June 12

stopped all trade in dollars and euros at MOEX, making the yuan

the most-traded foreign currency in Russia.

Trade in dollars and euros has shifted to the

over-the-counter (OTC) market, obscuring price data and making

the rouble's exchange rate more volatile.

One-day rouble-dollar futures, which trade on the Moscow

exchange and are a guide for OTC market rates, were flat at

97.82. The central bank's official exchange rate, which it

calculates using OTC data, was last set at 97.86 to the dollar.

Brent crude oil, a global benchmark for Russia's

main export, was up 0.5% at $72.12 a barrel.

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