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Russian rouble steadies close to over six-month high vs dollar
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Russian rouble steadies close to over six-month high vs dollar
Mar 13, 2025 1:48 AM

March 13 (Reuters) -

The Russian rouble steadied close to a more than six-month

high against the dollar on Thursday as the market waited for the

next development on the Ukraine war after Kyiv said it was ready

to support Washington's 30-day ceasefire proposal.

The Kremlin said on Wednesday it would review details from

Washington about the proposed ceasefire in Ukraine before

responding, while U.S. Secretary of State Marco Rubio hoped a

deal would be struck within days.

By 0824 GMT, the rouble was up 0.8% at 86.45 to the

dollar in over-the-counter market trade. It had reached 85.1205,

its strongest level since August 7, 2024, on Tuesday.

Against the Chinese yuan, the most traded foreign currency

in Russia, the rouble was up 0.4% to 11.88.

The rouble is up against the dollar this year, mostly thanks

to expectations of improved relations between Moscow and

Washington.

The currency's strengthening could have some bearing on the

central bank when it next meets to set interest rates.

Anatoly Aksakov, head of the financial committee in Russia's

lower house of parliament, the State Duma, said he expected the

central bank to keep rates at 21% on March 21, with high

inflation preventing the central bank from being able to ease

borrowing costs.

"On the other hand, we see the rouble exchange rate is

strengthening and there are forecasts that it will strengthen

even further," Aksakov said at a financial forum on Thursday.

"Respectively, the political factor is influencing the fact that

the key rate may be lowered."

Brent crude oil LCOc1, a global benchmark for Russia's main

export, was up 0.4% at $71.22 a barrel.

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