MUSCOW: The Russian rouble pulled away from a one-week high on Thursday to weaken towards 80 to the dollar, supported by hopes of positive US-Russia talks this week but held back by reduced government FX interventions and declining export revenues.
Russian markets have been jittery since US President Donald Trump set an August 8 deadline for Russia to agree to peace in Ukraine or face tightened sanctions. All eyes are now on the August 15 meeting between Trump and Russian President Vladimir Putin in Alaska.
“It is impossible to predict the outcome of this meeting, which means the rouble rate in the coming days may experience increased volatility,” said Maxim Timoshenko of Russian Standard Bank.
At 0930 GMT, the rouble was down 0.5% at 79.85 to the dollar, according to data compiled by LSEG based on over-the-counter quotes, and 0.3% weaker at 11.10 against China’s yuan, the most traded foreign currency in Russia.
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