MOSCOW: The Russian rouble was little changed against all major currencies on Tuesday, with the official exchange rate to the US dollar just below the 100-rouble mark, an important threshold it last fell through over one year ago.
By 0830 GMT, the rouble was down 0.3% at 100.00 against the dollar and down 0.6% at 106.37 against the euro , according to LSEG data.
The Russian currency weakened 0.2% against the yuan to 13.77 in trade on the Moscow stock exchange.
The global dollar rally, the main source of the rouble’s weakness in recent days, paused on profit-taking on Tuesday after the US currency hit a one-year high following the US election results.
Brent crude oil, a global benchmark for Russia’s main export, was steady at $73.12 a barrel after rising by almost 3% on Monday as investors remained cautious amid fears of an escalation in the Russia-Ukraine war.
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.
Russian rouble hovers around 100 to US dollar on renewed tensions with West
Trade in dollars and euros has shifted to the over-the-counter (OTC) market, obscuring price data and making the rouble’s exchange rate more volatile.
One-day rouble-dollar futures, which trade on the Moscow exchange and are a guide for OTC market rates, were up 0.2% at 100.00.
The central bank’s official exchange rate, which it calculates using OTC data, was last set at 99.94 to the dollar.
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