MOSCOW, Nov 6 (Reuters) - The Russian rouble briefly
weakened to 100 against the dollar on Wednesday as Donald Trump
claimed victory in the U.S. presidential election, a result that
could push the U.S. currency higher.
Trump claimed victory in the 2024 presidential contest after
Fox News projected that he had defeated Democrat Kamala Harris,
which would cap a stunning political comeback four years after
he left the White House.
By 0737 GMT, the rouble was 0.2% weaker against the dollar
at 98.00, earlier touching 100.25, close to its weakest
point in over a year.
The rouble was steady against the yuan at 13.73, according
to LSEG data, and gained 1.2% to 105.6 against the euro
.
Analysts generally assume Trump's plans for restricted
immigration, tax cuts and sweeping tariffs if enacted would put
more upward pressure on inflation and bond yields, than Harris'
centre-left policies.
Trump's proposals would also tend to push up the dollar and
potentially limit how far U.S. interest rates might ultimately
be lowered. Trump has also criticised the level of U.S. military
support for Ukraine and has pledged to end the conflict soon.
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.
One-day rouble-dollar futures, which trade on the Moscow
exchange are a guide for OTC market rates. The central bank's
official exchange rate, which it calculates using OTC data, was
last set at 98.06 to the dollar.
Russia's rouble-denominated MOEX Russian stock index
was 2.3% higher at 2,677.9 points.
(Writing by Alexander Marrow; editing by Philippa Fletcher)