MOSCOW: 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 US 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.
Russian rouble dips to 100 to dollar as Trump declares election win
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.
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