MOSCOW, Oct 18 (Reuters) - The rouble weakened slightly
against the U.S. dollar and the Chinese yuan, continuing an
eight-week weakening trend, but strengthened against the euro,
with some support for the Russian currency expected towards the
end of the month.
By 0730 GMT, the rouble was down by 0.4% at 97.10
against the U.S. dollar and down by 0.2% at 13.36
against China's yuan, according to data compiled by LSEG.
Western sanctions, imposed on the Moscow Stock Exchange
(MOEX) and its clearing agent, the National Clearing Centre, on
June 12, stopped all trade in dollars and euros at MOEX, making
China's 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.
Analysts said the currency would be supported by an expected
central bank's rate hike on Oct. 25, increased sales of yuan by
the state, and increasing currency sales by exporters in order
to pay their taxes in roubles at the end of the month.
One-day rouble-dollar futures, which trade on the Moscow
exchange and are a guide for OTC market rates, were up 0.14% at
96.2. The central bank's official exchange rate, which it
calculates using OTC data, was set at 97.15 to the dollar.
The rouble strengthened 0.1% to 105.44 against the euro
, LSEG data showed.
Brent crude oil, a global benchmark for Russia's
main export, was up 0.5% at $74.82 a barrel, but still headed
for its biggest weekly loss in more than a month.