MOSCOW, June 28 (Reuters) - The Russian rouble weakened
against the dollar after exporters completed their forex sales
to meet Friday's monthly tax payment deadline.
Traders said Thursday's announcement by the central bank
that it would reduce its daily foreign currency sales in the
second half of the year - separate from the operations it
conducts on behalf of the finance ministry - was also a factor
weighing against the rouble.
On the interbank market, where liquidity can be low as major
Russian banks that have been sanctioned cannot participate, the
rouble traded 1.5% lower at 86.30 to the dollar by 0756
GMT.
The average dollar-rouble mixed composite rate, calculated
by LSEG and based on data from international brokers and
counterparties, stood at 86.24.
The central bank's official dollar-rouble rate was set at
84.96 for June 28, calculated on the basis of OTC trading.
Sanctions on Moscow Exchange and its clearing
agent, the National Clearing Centre (NCC), have led to a range
of varying prices and spreads after it halted exchange trading
in the dollar and euro this month. Trade moved to the
over-the-counter (OTC) market on June 14.
Russia's central bank said on Thursday it would sell 8.4
billion roubles ($97.4 million) worth of foreign currency per
day in the second half of the year, down from 11.8 billion
roubles in the first half.
The central bank's operations are conducted on the domestic
forex market in Chinese yuan, and are related to the
replenishment and spending of money from the state's rainy day
National Welfare Fund.
The bank's own forex operations are separate from those it
conducts on behalf of the finance ministry, for which in the
current month it is buying the equivalent of 3.7 billion roubles
a day of foreign currency.
On Friday the rouble was trading at 11.70 to the yuan, down
1.6%.
Brent crude oil, a global benchmark for Russia's
main export, was up 0.7% at $86.96 a barrel. Traders said the
firm oil price and expectations that the Russian central bank
would increase its key rate at its July meeting would lend
support to the rouble.