Russian Rouble Strengthens Against Yuan Amid Increased Currency Sales

The Russian rouble saw a slight increase against the yuan, bolstered by higher net daily sales of the Chinese currency. However, it weakened against the dollar and euro. Trading in major currencies has moved to the over-the-counter market since Western sanctions were imposed, affecting the Moscow Exchange.

The Russian rouble experienced a slight uptick against the yuan on Thursday, attributed to increased net daily sales of the Chinese currency by the finance ministry and central bank.

At 0715 GMT, the rouble was up by 0.1% at 11.84 against the yuan, the most traded foreign currency in Moscow, according to over-the-counter market analysis.

Despite this rise, the rouble was 0.4% lower at 85.85 against the dollar and down 0.3% at 93.93 against the euro. Brent crude oil, a key export for Russia, was down 0.5% at $78.15 per barrel amid Middle East supply concerns.

(With inputs from agencies.)