Russian rouble weakens towards 80 to dollar with Putin-Trump meeting in focus
Russian markets have been jittery since U.S. 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.
Brent crude oil, a global benchmark for Russia's main export, was up 0.4% at $65.87 a barrel.
Russia has lowered its net sales of foreign currency this month, reducing support for the rouble.
Timoshenko cited deferred demand for imports, declining export revenues and budget issues - Russia's January-July budget deficit leapt to 2.2% of GDP, or 4.9 trillion roubles ($61.4 billion), - as other factors weighing on the rouble.
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