MOSCOW: The Russian rouble was flat against the US dollar and the Chinese yuan on Thursday as the central bank’s governor said that Russian exporting companies were selling foreign currency at levels above mandatory sales requirements.
At 0845 GMT, the rouble was flat at 96.80 against the dollar. It was also flat at 13.44 against the yuan, according to LSEG data. The rouble weakened by 0.1% to 105.45 against the euro.
“Despite the reduction in mandatory sales requirements, they are still selling 66% (of their forex earnings), even above the norm because they need to cover their rouble expenses here,” the central bank’s governor Elvira Nabiullina told parliament.
Comments
Comments are closed.