MOSCOW, Feb 11 (Reuters) - The Russian rouble
strengthened against the dollar and the Chinese yuan on Tuesday
with analysts saying that higher prices for oil and increased
forex sales by the central bank supported the Russian currency.
At 1000 GMT, the rouble was up 0.8% at 95.90 against
the dollar, according to data from the over-the-counter market.
The rouble weakened 0.9% to 12.99 against China's yuan on the
Moscow Stock Exchange (MOEX).
"The rouble has significantly strengthened amid the increase
in oil prices," Gazprombank analysts said. Oil prices extended
gains on Tuesday on concerns over Russian and Iranian oil
supply.
The rouble has strengthened by about 14% against the dollar
this year despite new U.S. energy sanctions, mainly on
expectations of easing tensions in the longer term between
Russia and the United States.
Reduced demand for the foreign currency from importers as
well as from a 17% increase in sales of the Chinese yuan by the
central bank as part of forex interventions also supported the
rouble.
One-day dollar/rouble futures, which trade on MOEX and serve
as a guide for the over-the-counter exchange rate, were down
0.7% to 97.28. The Russian central bank set the official
exchange rate at 96.78.