MOSCOW: The Russian rouble has gained 11 percent against the US dollar since the start of 2025, mainly on optimism about potential Russia-US talks, but new US energy sanctions could hit the currency in February, analysts say.
At 0745 GMT on Friday, the rouble was up 0.6% at 97.90 against the dollar, according to over-the-counter market data. The rouble weakened 0.6% to 13.28 against China’s yuan in trade on the Moscow Stock Exchange (MOEX).
The yuan became the most traded foreign currency in Russia after Western sanctions stopped all trade in dollars and euros on MOEX last year. The rouble is up 3.5% against the yuan so far this year.
The US imposed further sanctions on Russian energy on Jan. 10, targeting exports to Russia’s main trading partners China and India. Analysts said the sanctions could reduce foreign currency inflows, weakening the rouble. “We are still concerned that forex inflows in February will not meet the rising demand from importers, and the rouble will start losing its positions,” Alor brokerage analysts said in a note.
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