MOSCOW: The Russian rouble was flat against the dollar on Friday, stabilising after recovering in the last three days from a roughly 9% fall that began last week when Ukraine launched its biggest attack on Russian territory since the start of the war.
By 0800 GMT, the rouble was at 88.75 to the dollar, according to LSEG data. The rouble briefly touched a 10-month low of 96.60 to the dollar during trading on Aug. 13.
Trading in major currencies shifted to the over-the-counter (OTC) market, obscuring pricing data, after Western sanctions on the Moscow Exchange and its clearing agent, the National Clearing Centre, were introduced on June 12.
One-day rouble-dollar futures, which trade on the Moscow Exchange and serve as guidance for the OTC market rates, were also flat at 88.41.
The central bank’s official exchange rate, which it calculates using OTC data, was set at 88.80 to the dollar on Friday.
Comments
Comments are closed for this article.