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Russian rouble slides to near one-year low to China's yuan
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Russian rouble slides to near one-year low to China's yuan
Nov 4, 2024 11:42 PM

MOSCOW, Nov 5 (Reuters) - The rouble slid to a near

one-year low against China's yuan on Tuesday under pressure from

reduced foreign currency sales by exporters at the start of the

month and with the U.S. presidential election on Nov.5.

By 0707 GMT, the rouble was down 1.3% to 13.73 against the

yuan, according to LSEG data, its weakest mark since Oct. 9,

2023. Versus the dollar, the rouble was 0.3% stronger, at

98.10.

The rouble had shed 0.1% to 107.77 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 97.55 to the dollar.

(Writing by Alexander Marrow; Editing by Michael Perry)

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