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Russian rouble flat against dollar, cementing partial recovery
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Russian rouble flat against dollar, cementing partial recovery
Aug 16, 2024 1:23 AM

MOSCOW, Aug 16 (Reuters) - The Russian rouble was flat

against the dollar on Friday, stabilising after recovering in

the last three days from a roughly 9% fall that began last week

when Ukraine launched its biggest attack on Russian territory

since the start of the war.

By 0800 GMT, the rouble was at 88.75 to the dollar,

according to LSEG data. The rouble briefly touched a 10-month

low of 96.60 to the dollar during trading on Aug. 13.

Trading in major currencies shifted to the over-the-counter

(OTC) market, obscuring pricing data, after Western sanctions on

the Moscow Exchange and its clearing agent, the National

Clearing Centre, were introduced on June 12.

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

Exchange and serve as guidance for the OTC market rates, were

also flat at 88.41.

The central bank's official exchange rate, which it

calculates using OTC data, was set at 88.80 to the dollar on

Friday.

According to an analysis of the OTC market, the rouble

weakened by 0.5% to 12.03 against the Chinese yuan, which has

become the most traded foreign currency in Moscow.

It was up 0.4% at 97.16 against the euro on

Wednesday, according to LSEG data.

Brent crude oil, a global benchmark for Russia's

main export, was down 0.4% at $80.75 a barrel.

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