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Russian rouble recovers slightly after hitting over one-year low vs dollar
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Russian rouble recovers slightly after hitting over one-year low vs dollar
Nov 9, 2024 11:53 AM

MOSCOW, Nov 7 (Reuters) - The Russian rouble hovered

near 98 to the dollar on Thursday, recovering slightly after

touching a more than one-year low past 100 in the previous

session as Donald Trump declared victory in the U.S. election.

Trump's imminent return to the White House is putting a

spotlight on the dollar, which could have far-reaching

implications for everything from domestic manufacturers to

emerging markets if the currency's rally continues.

By 0737 GMT, the rouble was 0.9% weaker against the dollar

at 98.05, according to LSEG data. It was 0.1% weaker

against the yuan at 13.61, and shed 0.1% to 105.17

against the euro.

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 98.22 to the dollar.

Moscow Exchange, Russia's largest bourse, delayed the start

of trading on Thursday after detecting an error in the stock

market's trading and clearing system.

(Writing by Alexander Marrow, Editing by Timothy Heritage)

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