Russian rouble little changed in muted trading before Russian public holidays

The rouble was little changed against major currencies on Saturday with low liquidity and activity on what was an official working day in Russia ahead of a series of public holidays in May. Trading activity was subdued and most international markets were closed due to the weekend.

By 0821 GMT the rouble was 0.1% weaker against the dollar at 91.79. The Russian currency gained 0.4% to trade at 97.80 versus the euro and was 0.02% stronger against the yuan at 12.57. The upcoming May holidays in Russia are expected to bring volatility risks for the rouble. This period spans not only the official public holidays themselves (April 29-30 and May 10) but also the weekdays inbetween (May 2-3 and May 6-8).

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