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The Russian rouble is flat against the US dollar following central bank's announcement of forex sales

On Friday, the Russian rouble was flat against the U.S. Dollar and slightly lower against Chinese Yuan after the central bank decided to increase its forex purchases in the second half.

According to LSEG, based on quotes over the counter, by 1335 GMT the rouble was trading at 78.37 US dollars. Since the beginning of the year, the Russian currency has gained 45% on the dollar.

The Russian central banks announced on June 26th that they will increase their foreign currency sales from 8.86 billion to 8.94 billion (113.53 millions) per day for the remainder of the year.

Analysts at Alfa Bank said that the continued sale of foreign currencies by the regulator would limit any potential weakening in the rouble. This is something the markets are expecting. The majority of analysts think that the rouble's current value is too high.

The rouble was trading at 10,96 per Chinese Yuan on the Moscow Stock Exchange, a 0.3% decline. (Reporting and editing by Nick Zieminski.

(source: Reuters)