MOSCOW: The rouble slid to a near one-year low against China’s yuan on Tuesday under pressure from reduced foreign currency sales by exporters at the start of the month and with the US presidential election on Nov.5.
By 0707 GMT, the rouble was down 1.3% to 13.73 against the yuan, according to LSEG data, its weakest mark since Oct. 9, 2023. Versus the dollar, the rouble was 0.3% stronger, at 98.10.
The rouble had shed 0.1% to 107.77 against the euro.
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 flat against dollar
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 97.55 to the dollar.
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