Rouble's Resilience: Russian Currency Fights Back After Record Lows

The Russian rouble experienced a minor recovery against the dollar after dropping to a low beyond 100, amid Donald Trump's election victory. This has impacted international trade dynamics, especially within the Moscow Exchange where currency trading faces new challenges due to Western sanctions and internal market shifts.

The Russian rouble showed signs of resilience on Thursday, trading close to 98 against the dollar. This slight recovery comes after the currency hit a one-year low exceeding 100, following Donald Trump's election victory declaration.

The rouble fell by 0.9% against the dollar, reaching 98.05 according to LSEG data. It also weakened against the yuan and euro, impacted by Western sanctions that halted dollar and euro trading at the Moscow Exchange. Consequently, the yuan has become Russia's most-traded foreign currency.

With official exchange rates now using over-the-counter (OTC) data, shifts in currency trade dynamics are closely monitored. Meanwhile, the Moscow Exchange faced delays on Thursday due to errors in its trading systems.

(With inputs from agencies.)