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Russian rouble flat as central bank sees continued strong forex sales

The Russian rouble was flat versus the U.S. dollar and the Chinese yuan on Thursday as the central bank's guv stated that Russian exporting business were offering foreign currency at levels above mandatory sales requirements.

At 0845 GMT, the rouble was flat at 96.80 versus the dollar. It was also flat at 13.44 versus the yuan, according to LSEG information. The rouble damaged by 0.1% to 105.45 versus the euro.

Regardless of the reduction in mandatory sales requirements, they are still selling 66% (of their forex profits), even above the norm due to the fact that they need to cover their rouble expenses here, the central bank's guv Elvira Nabiullina informed parliament.

Brent petroleum, a worldwide benchmark for Russia's. main export, edged up 0.15%, to $72.66 a barrel, as reports that. OPEC+ may postpone an organized output boost offered assistance.

Western sanctions imposed on the Moscow Stock Market. ( MOEX) and its clearing agent, the National Clearing Centre, on. June 12 stopped all trade in dollars and euros at MOEX, making. the yuan the most-traded foreign currency in Russia.

Trade in dollars and euros has actually moved to the. over-the-counter (OTC) market, obscuring rate data.

One-day rouble-dollar futures, which trade on the Moscow. exchange and are a guide for OTC market rates, were also flat at. 96.92. The reserve bank's official exchange rate, which it. determines using OTC information, was set at 97.05 to the dollar.

(source: Reuters)