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Russian rouble strengthens against the dollar ahead of Trump inauguration
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Russian rouble strengthens against the dollar ahead of Trump inauguration
Jan 20, 2025 1:34 AM

MOSCOW, Jan 20 (Reuters) - The Russian rouble

strengthened against the U.S. dollar on Monday ahead of Donald

Trump's inauguration as U.S. president, with the Russian

currency up more than 10% since the start of the year despite

U.S. energy sanctions.

The rouble was up 0.8% at 101.65 to the dollar by 0900 GMT,

over-the-counter market data showed. The rouble weakened by

0.35% to 13.82 against China's yuan in trading on the Moscow

Stock Exchange (MOEX).

The Russian currency has mostly strengthened since the start

of the year after plunging to its weakest level since March 2022

on Jan. 2. The rouble has been largely unaffected by the latest

U.S. sanctions targeting Russia's oil and gas revenue.

"The recent surge in exchange rate volatility amid the

latest sanctions from the Biden administration against the

Russian oil and gas sector has quickly subsided," said analysts

at brokerage BCS.

The U.S. Treasury on Jan. 10 imposed sanctions on Russian

oil producers Gazprom Neft and Surgutneftegaz

, as well as 183 vessels that have shipped Russian oil.

Oil prices have since risen above $81 a barrel to their highest

in more than four months.

One-day rouble/dollar futures, which trade on MOEX and are a

guide for the over-the-counter exchange rate, were down 0.3% at

102.52. The Russian central bank set the official exchange rate

at 102.41.

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