At 0715 GMT, the rouble was down 0.6% at 92.50 to the dollar, according to LSEG data. The rouble fell as much as 9% against the dollar earlier in August after Ukraine’s surprise attack on Russia’s Kursk region, before stabilising around current levels.
Trading in major currencies in Russia shifted to the over-the-counter (OTC) market, obscuring price data, after Western sanctions on the Moscow Exchange and its clearing agent, the National Clearing Centre, were introduced on June 12.
According to an analysis of the OTC market, the rouble weakened by 0.5% to 11.90 against the Chinese yuan, which has become the most-traded foreign currency in Moscow. The rouble hit a two-month high against the yuan on Aug. 26.
Russian rouble flat but set to weaken as tax payments end
Foreign currency sales by exporting companies to accumulate enough roubles to pay their taxes at the end of the month are a major factor affecting the currency market.
One-day rouble-dollar futures, which trade on the Moscow Exchange and are a guide for OTC market rates, were flat at 90.54. The central bank’s official exchange rate, which it calculates using OTC data, was set at 91.44 to the dollar.
The rouble was 0.5% weaker at 102.19 against the euro , according to LSEG data.
Brent crude oil, a global benchmark for Russia’s main export, was up 0.2% at $79.67 a barrel after two sessions of losses, as supply concerns over Libya returned to focus.
