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Russian rouble gains against the dollar as US sanctions are in focus

On Monday, the Russian rouble was slightly higher against the U.S. Dollar and flat against the Chinese yuan. This is because Steve Witkoff, the special envoy of U.S. president Donald Trump to Russia will be visiting this week. Washington may impose new sanctions.

LSEG compiled data based on OTC quotes that showed the rouble up 0.1% at 79.92 per dollar as of 1420 GMT. It was unchanged at 11.06 versus the yuan. The most traded currency in Russia.

In a research report, analysts at the Bank of Saint Petersburg stated that the exchange rate could remain between 11.00 and 11.20 roubles to the yuan pending the disclosure of details of U.S. sanction.

Trump said that he would impose new sanctions against Moscow and the countries who buy its energy exports, China and India being the two biggest. This is unless Russia makes progress towards a peaceful settlement in Ukraine by 8 August.

According to a survey of 14 analysts conducted last week, the rouble will weaken by 20% to $100 against the dollar over the next year. (Reporting and editing by Mark Potter.)

(source: Reuters)