Russian rouble hits one-year lows against major currencies
MOSCOW, Oct 10 (Reuters) -The Russian rouble weakened further on Thursday, remaining at its lowest against the U.S. dollar and China's yuan since October 2023.
At 0740 GMT the rouble RUB= was down 0.4% at 97.40 against the dollar, LSEG data showed. The rouble on Wednesday hit the 97 mark for the first time since October last year.
The rouble was down 1.29% against the yuan at a one-year low of 13.65, according to LSEG data. In trade on the Moscow Stock Exchange (MOEX), the rouble was down 0.18% at 13.71 to the yuan.
"The rouble has once again hit yearly lows; an autumn slide of the national currency is almost 15%," said analysts at broker BCS.
Analysts pointed to several factors behind current rouble weakness, including the Oct. 12 expiration of a licence from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) allowing commercial banks to deal with MOEX.
The licence was issued to allow banks to wind down operations with MOEX after Western sanctions on the exchange and its clearing agent, the National Clearing Centre, were introduced on June 12.
The sanctions stopped all trade in dollars and euros at MOEX, making China's yuan the most traded foreign currency in Russia. Trade in dollars and euros has shifted to the over-the-counter (OTC) market, obscuring price data.
There is concern in the market that Chinese banks providing yuan liquidity for exchange trading could pull out for compliance reasons after the OFAC licence expires.
Other factors pressuring the rouble included weaker oil prices over the August-September period, exporters withholding foreign exchange due to international transactions problems as well as growth in cross-border settlements in roubles, analysts and traders said.
Increased foreign exchange sales by the state in October are supporting the Russian currency but this was not sufficient to offset the downward pressure, analysts said.
One-day rouble-dollar futures, which trade on the Moscow exchange and are a guide for OTC market rates, were flat at 96.54. The central bank's official exchange rate, which it calculates using OTC data, was set at 96.95 to the dollar.
The rouble was down 0.42% at 106.55 against the euro EURRUB=, LSEG data showed.
Brent crude oil LCOc1, a global benchmark for Russia's main export, edged up 0.67% to $77.07 a barrel.
Reporting by Gleb Bryanski
Editing by David Goodman
Aset Terkait
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
