financetom
Market
financetom
/
Market
/
Russian rouble weakens vs US dollar, follows global forex market
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

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 >
Sector Update: Energy
Sector Update: Energy
Dec 3, 2024
01:18 PM EST, 12/03/2024 (MT Newswires) -- Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.5% and the Energy Select Sector SPDR Fund (XLE) up 0.1%. The Philadelphia Oil Service Sector index was fractionally higher, and the Dow Jones US Utilities index was adding 0.1%. Front-month West Texas Intermediate crude oil was rising 2.7% to...
Sector Update: Financial
Sector Update: Financial
Dec 3, 2024
01:23 PM EST, 12/03/2024 (MT Newswires) -- Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund (XLF) off 0.4%. The Philadelphia Housing Index was shedding 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was easing 0.1%. Bitcoin (BTC-USD) was up 0.2% to $95,686, and the...
Sector Update: Tech
Sector Update: Tech
Dec 3, 2024
01:21 PM EST, 12/03/2024 (MT Newswires) -- Tech stocks were mixed Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) fractionally lower and the SPDR S&P Semiconductor ETF (XSD) rising 2%. The Philadelphia Semiconductor index shed 0.4%. In corporate news, Palantir ( PLTR ) said it received FedRAMP high authorization for its cloud services, opening the door for more...
Exchange-Traded Funds Lower, US Equities Mixed After Midday Trading
Exchange-Traded Funds Lower, US Equities Mixed After Midday Trading
Dec 3, 2024
01:12 PM EST, 12/03/2024 (MT Newswires) -- Broad Market Indicators Broad-market exchange-traded fund IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) was up 0.1% US equity indexes and government bond yields were mixed in midday trading on Tuesday. Energy iShares US Energy ETF (IYE) edged up 0.1%, while Energy Select Sector SPDR (XLE) rose 0.2%. Technology Technology Select...
Copyright 2023-2026 - www.financetom.com All Rights Reserved