Rouble Fluctuates Amid Increased Yuan Sales

The Russian rouble saw mixed movements against major currencies on Wednesday. It weakened against the dollar but strengthened against the yuan. This change comes with increased daily sales of the Chinese currency by Russian authorities and follows Western sanctions. Brent crude oil prices also rose amid supply concerns.

The Russian rouble fluctuated on Wednesday, weakening against the dollar but making gains against the yuan as the finance ministry and central bank increased net daily sales of the Chinese currency.

As of 0820 GMT, the rouble was down by 0.6% to 86.00 against the dollar. However, it rose by 0.6% to 11.78 against the yuan, now Moscow's most traded foreign currency amid sanctions. This shift to the over-the-counter market has obscured pricing data.

Meanwhile, the rouble remained steady against the euro at 93.64. Brent crude oil, a key Russian export, climbed by 0.7% to $76.66 per barrel due to heightened concerns over Middle East supply disruptions.