Russian rouble strengthens vs US dollar in thin holiday trade
At 1140 GMT, the rouble was up 2% at 81.1 against the U.S. dollar, LSEG data based on over-the-counter quotes showed. The Russian currency has risen by almost 40% against the dollar so far this year.
Against the Chinese yuan, which is used by Russia's central bank for its foreign exchange interventions and is the most-traded foreign currency in Russia, the rouble was up 1.4% at 11.24 to the yuan on the Moscow Stock Exchange.
'The rouble's exchange rate continues to depend on geopolitical rhetoric, the intensification or de-escalation of which can add volatility to the currency market at any moment,' said Maxim Timoshenko from Russian Standard Bank.
Rouble strengthens versus US dollar
Oil prices fell more than 1% on Monday after producer group OPEC+ decided over the weekend to further speed up oil output hikes, spurring concerns about more supply coming into a market clouded by an uncertain demand outlook.
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