Rouble's Rocky Ride Amid Moscow Trading Holiday

The Russian rouble experienced volatility against the dollar in thin trade due to a public holiday in Russia until January 9. The currency moved in the interbank market, with sanctions affecting trading conditions. Rouble also weakened against China's yuan while Brent crude prices slightly declined.

The Russian rouble saw fluctuations against the dollar on Friday, with trading volumes reduced as Russia observes a public holiday until January 9. On the Moscow Exchange, one-day rouble/dollar futures dipped by 1% to 101.61 by 0858 GMT, compared to the central bank's previous rate of 101.68.

In the interbank market, the rouble hovered around 110.50, showing some recovery after falling to a three-year low of nearly 115 in the last session when trading in Moscow was suspended. Sanctions impacting the Moscow Exchange and its clearing agent, the National Clearing Centre (NCC), have caused varied pricing and spreads as trading shifted to the over-the-counter market as far back as June 2024, challenging access to consistent pricing for the Russian currency.

Meanwhile, the rouble weakened by 0.8% to 13.82 against China's yuan during Moscow Exchange trading. Additionally, Brent crude oil, a crucial benchmark for Russian exports, experienced a minor decline of 0.2%, valued at $75.79 per barrel.

(With inputs from agencies.)