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MOSCOW: The Russian rouble weakened slightly against the US dollar and, more significantly, against China’s yuan on Friday, reacting to a planned reduction in the state’s foreign currency purchases for the coming month.
The Russian Finance Ministry said earlier that it would cut its foreign currency sales to 0.6 billion roubles (USD7.36 million) a day from October 7 to November 7, from 1.4 billion roubles a day previously.
The move will cut the state’s overall daily net forex sales, which combine forex operations by the ministry and the central bank, to 9.54 billion roubles a day from October 7, from 10.34 billion roubles a day previously.