MOSCOW, Aug 15 (Reuters) - The Russian rouble gained
against the dollar on Thursday, recovering partially from a
roughly 9% fall which began last week when Ukraine launched its
biggest attack on Russian territory since the start of the war.
By 0800 GMT, the rouble was 1.3% stronger at 88.60 to
the dollar, according to LSEG data. The rouble briefly touched a
10-month low against 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
up 0.5% on Wednesday to 87.80.
The central bank's official exchange rate, which it
calculates using OTC data, was set at 90.01 to the dollar for
Thursday, recovering almost 3% compared to the rate set for
Wednesday.
The weakening of the rouble against the dollar and euro has
continued despite support increased net daily sales of yuan by
the Russian central bank and finance ministry as well as high
key interest rate.
Russian exporters, whose sales of foreign currency to make
tax payments usually support the rouble, are also largely absent
from the market at the moment as the payments are not due until
later in August.
Currency traders told Reuters that the remaining foreign
banks in Russia were the main sellers of the rouble during the
past week.
According to an analysis of the OTC market, the rouble
strengthened by 0.4% to 11.90 against the Chinese yuan, which
has become the most traded foreign currency in Moscow. During
Aug. 13 session, the rouble touched its lowest level against the
yuan since June 24.
It was up 0.49% at 98.29 against the euro on
Wednesday, according to LSEG data.
Brent crude oil, a global benchmark for Russia's
main export, was up 0.21% at $80.20 a barrel, supported by
optimism that potential U.S. interest rate cuts will boost
economic activity and fuel consumption.