Rouble Takes a Hit as Trump Claims 2024 Victory

The Russian rouble briefly weakened to 100 against the dollar as Donald Trump claimed victory in the U.S. presidential election. This development raises the U.S. currency, affecting global markets. Trump's plans may increase inflation and bond yields, influencing dollar interest rates and military support for Ukraine.

The Russian rouble experienced a sharp decline, briefly touching 100 against the dollar, following Donald Trump's claimed victory in the U.S. presidential election. This outcome could bolster the U.S. currency, presenting potential global market implications.

At 0737 GMT, the rouble was 0.2% weaker against the dollar, settling at 98.00 after reaching its lowest point in over a year. While it remained steady against the yuan, it gained 1.2% against the euro. Analysts believe Trump's proposed policies could elevate inflation and bond yields more than his opponent's, boosting the dollar and affecting U.S. interest rate strategies.

Amid heightened sanctions on the Moscow Exchange, trade in dollars and euros has transitioned to the over-the-counter market, complicating price data access. The central bank's official exchange rate was set at 98.06 to the dollar, with the MOEX stock index rising 2.3% to 2,677.9 points.

(With inputs from agencies.)