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Russian rouble steadies close to 98 against dollar
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Russian rouble steadies close to 98 against dollar
Nov 9, 2024 12:54 PM

MOSCOW, Nov 8 (Reuters) - The Russian rouble steadied

near 98 to the dollar on Friday, still trading close to the

symbolic 100 threshold it briefly crossed as Donald Trump

declared victory in the U.S. election earlier this week.

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 0857 GMT, the rouble was 0.2% stronger against the dollar

at 97.80, according to LSEG data. On Wednesday, the

Russian currency hit a more than one-year low against the

dollar.

The rouble was 1.4% stronger against the yuan at

13.54, and gained 0.1% to 105.74 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 98.07 to the dollar.

(Writing by Alexander Marrow

Editing by Tomasz Janowski)

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