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Reuters
21-05-2025
- Business
- Reuters
Russian rouble near highest against US dollar since June 2023
MOSCOW, May 21 (Reuters) - The Russian rouble briefly strengthened past the level of 80 to the U.S. dollar on Wednesday before rebounding, but remained close to its highest level since June 2023. By 1000 GMT, the rouble was up 0.4% at 80.30 per U.S. dollar, LSEG data based on over-the-counter quotes showed. The Russian currency has risen by over 40% against the dollar this year. The rouble's exchange rate did not appear to suffer any major impact from new sanctions against Russia, announced by the EU and Britain on May 20, which targeted Russia's "shadow fleet" of oil tankers and financial firms. Analysts have said the rouble's strength this year is linked to the easing of geopolitical tensions and the central bank's tight monetary policy, which has reduced demand for foreign currency. "The strengthening of the rouble is largely due to the prolonged rigidity of monetary policy, which stimulates interest in rouble assets, against the backdrop of a positive geopolitical track," said Denis Popov from PSB bank. Against the Chinese yuan, which Russia's central bank uses for its foreign exchange interventions and is the most-traded foreign currency in Russia, the rouble was up 0.7% at 11.09 per yuan on the Moscow Stock Exchange.
Zawya
21-05-2025
- Business
- Zawya
Russian rouble near highest against US dollar since June 2023
The Russian rouble briefly strengthened past the level of 80 to the U.S. dollar on Wednesday before rebounding, but remained close to its highest level since June 2023. By 1000 GMT, the rouble was up 0.4% at 80.30 per U.S. dollar, LSEG data based on over-the-counter quotes showed. The Russian currency has risen by over 40% against the dollar this year. The rouble's exchange rate did not appear to suffer any major impact from new sanctions against Russia, announced by the EU and Britain on May 20, which targeted Russia's "shadow fleet" of oil tankers and financial firms. Analysts have said the rouble's strength this year is linked to the easing of geopolitical tensions and the central bank's tight monetary policy, which has reduced demand for foreign currency. "The strengthening of the rouble is largely due to the prolonged rigidity of monetary policy, which stimulates interest in rouble assets, against the backdrop of a positive geopolitical track," said Denis Popov from PSB bank. Against the Chinese yuan, which Russia's central bank uses for its foreign exchange interventions and is the most-traded foreign currency in Russia, the rouble was up 0.7% at 11.09 per yuan on the Moscow Stock Exchange. (Reporting by Gleb Bryanski, editing by Ed Osmond)
Reuters
31-03-2025
- Business
- Reuters
Russian rouble weakens after Trump's Russia comments
MOSCOW, March 31 (Reuters) - The Russian rouble weakened against the U.S. dollar on Monday after U.S. President Donald Trump said he was"pissed off" at Russian President Vladimir Putin and threatened buyers of Russian oil with tariffs. By 0920 GMT, the rouble was down 0.7% at 85.50 against the dollar in the over-the-counter market. The Russian currency is up by about 25% against the dollar this year, mostly on expectations of easing geopolitical tensions. Trump told NBC News on March 30 that he was very angry after Putin criticised the credibility of Ukrainian President Volodymyr Zelenskiy's leadership. His comments reflect his growing frustration about the lack of movement on a ceasefire. "The news backdrop, at the very least, has halted the formation of optimistic expectations in the market, which limits demand for rouble-denominated assets," said Denis Popov from PSB bank. The rouble also lost support from foreign currency conversion by exporting companies, which had been buying up roubles last week to make their corporate tax payments. "After the exhaustion of fundamental factors that created a slight oversupply of foreign currency last week, there is a risk that the value of the rouble may shift to somewhat weaker levels," Popov added. Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was down 0.2% to 11.70, on the Moscow Stock Exchange.
Asharq Al-Awsat
19-03-2025
- Business
- Asharq Al-Awsat
Russian Rouble Weakens After Trump-Putin Call
The Russian rouble interrupted its rally and weakened against both the US dollar and China's yuan on Wednesday following a conversation between US President Donald Trump and Russian President Vladimir Putin that focused on the war in Ukraine. In the telephone call, Putin agreed to stop attacking Ukrainian energy facilities temporarily but declined to endorse a full 30-day ceasefire that Trump had hoped would be the first step toward a permanent peace deal. By 0840 GMT, the rouble was down 1.3% at 82.80 against the dollar in the over-the-counter market. Against the Chinese yuan, the rouble was down 1.2% at 11.36 in trade on the Moscow Stock Exchange (MOEX). The Russian currency hit its strongest levels against both the dollar and the yuan since June 2024 this week. It is up 27% against the dollar so far this year on expectations of easing tensions between Russia and the United States. Russia's Deputy Prime Minister Alexander Novak said on Tuesday that a return of foreign investors to the Russian market and resulting capital inflows played a role in the rouble rally. "We are also observing an inflow of foreign capital into the domestic market, taking into account the geopolitical situation," Novak was quoted in the Russian media as saying. The stronger rouble is helping the central bank fight inflation, its main headache. However, it is also dealing a blow to exporting companies as well as state budget revenues, which depend heavily on oil and gas exports that are traded in dollars. Denis Popov from PSB bank noted that Novak's statement was the first official confirmation of capital inflows taking place as international investors begin to eye Russian assets again, creating the potential for further strengthening of the rouble. "Considering that the end of March should see an increase in currency sales by exporters, the risks of further strengthening of the rouble are very high," Popov said.
Zawya
19-03-2025
- Business
- Zawya
Russian rouble weakens after Trump-Putin call
The Russian rouble interrupted its rally and weakened against both the U.S. dollar and China's yuan on Wednesday following a conversation between U.S. President Donald Trump and Russian President Vladimir Putin that focused on the war in Ukraine. In the telephone call, Putin agreed to stop attacking Ukrainian energy facilities temporarily but declined to endorse a full 30-day ceasefire that Trump had hoped would be the first step toward a permanent peace deal. By 0840 GMT, the rouble was down 1.3% at 82.80 against the dollar in the over-the-counter market. Against the Chinese yuan, the rouble was down 1.2% at 11.36 in trade on the Moscow Stock Exchange (MOEX). The Russian currency hit its strongest levels against both the dollar and the yuan since June 2024 this week. It is up 27% against the dollar so far this year on expectations of easing tensions between Russia and the United States. Russia's Deputy Prime Minister Alexander Novak said on Tuesday that a return of foreign investors to the Russian market and resulting capital inflows played a role in the rouble rally. "We are also observing an inflow of foreign capital into the domestic market, taking into account the geopolitical situation," Novak was quoted in the Russian media as saying. The stronger rouble is helping the central bank fight inflation, its main headache. However, it is also dealing a blow to exporting companies as well as state budget revenues, which depend heavily on oil and gas exports that are traded in dollars. Denis Popov from PSB bank noted that Novak's statement was the first official confirmation of capital inflows taking place as international investors begin to eye Russian assets again, creating the potential for further strengthening of the rouble. "Considering that the end of March should see an increase in currency sales by exporters, the risks of further strengthening of the rouble are very high," Popov said. (Reporting by Gleb Bryanski; Editing by Joe Bavier)
