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Russian rouble weakens after hypersonic missile strike in Ukraine
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Russian rouble weakens after hypersonic missile strike in Ukraine
Nov 22, 2024 12:28 AM

MOSCOW, Nov 22 (Reuters) - The Russian rouble weakened

further against the U.S. dollar on Friday after President

Vladimir Putin said Russia had struck a Ukrainian military

facility with a new medium-range, hypersonic ballistic missile.

At 0730 GMT, the rouble was down 0.7% at 102.00

against the dollar. The Russian currency was flat at 106.15 to

the euro, according to LSEG data. The rouble was up

0.3% against the yuan at 13.90 in trade on the Moscow stock

exchange.

The rouble's official exchange rate, set by the central

bank, broke through the 100 mark against the U.S. dollar this

week for the first time since October 2023, amid concerns of

further escalation in Russia's standoff with the West.

The rouble has been falling since the start of Ukraine's

incursion into Russia's Kursk region on Aug. 6 and has lost

about 20% in value to the dollar since then, based on LSEG data.

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.

The central bank sets its official dollar rate using

over-the-counter (OTC) trade data from banks. This tends to make

the exchange rate more opaque and volatile. The central bank set

the rouble exchange rate at 100.68 to the dollar.

One-day rouble-dollar futures, which trade on the Moscow

exchange and are a guide for OTC market rates, were up 0.25% at

101.29.

Brent crude oil, a global benchmark for Russia's

main export, was up 0.32% to $74.45 per barrel and was on track

for a weekly rise of more than 4%, as the Ukraine war

intensified.

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