MOSCOW: The Russian rouble weakened against the US dollar on Friday on uncertainty surrounding a possible meeting between US President Donald Trump and Russian President Vladimir Putin.
By 1350 GMT the rouble was down 0.7% at 79.82 to the dollar, according to data compiled by LSEG based on over-the-counter quotes. The rouble was down 0.9% against China’s yuan, the most traded foreign currency in Russia. Putin and Trump are expected to meet in the coming days, the Kremlin said on August 7, as the US president seeks a breakthrough to end the Ukraine war, but no venue and firm date have yet been set for the meeting.
The rouble strengthened by 1% on the news about the meeting but then started to weaken.
“Forex rates yesterday fell to two-week lows, driven by a surge of optimism regarding geopolitics. We do not yet see sufficient grounds, given the low oil prices and seasonality, to lower our target range,” said Evgeny Loktykhov, an analyst at PSB.
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