Russian rouble weakens vs China's yuan to lowest since April 19
MOSCOW, Sept 17 (Reuters) -The Russian rouble extended losses against China's yuan on Tuesday after falling by more than 1% in the previous session, taking it close to 13 roubles per yuan, a level last seen in April.
By 0800 GMT, the rouble had weakened by 0.2% to 12.94, the lowest since April 19, against China's yuan on the Moscow Stock Exchange. Trade volumes in the yuan, which has become the most traded foreign currency in Russia, fell by half compared to last week.
The rouble was up 0.2% at 91.25 against the dollar RUB=, LSEG data showed.
"The growth in the Chinese currency was partly due to the fact that shorts on the yuan-rouble pair were opened around the 12.75 level. Not seeing a downward movement, many began to cover them," analysts at Alor brokerage said.
Trading in major currencies in Russia has shifted to the over-the-counter (OTC) market, obscuring price data, since Western sanctions on the Moscow Exchange and its clearing agent, the National Clearing Centre, were introduced on June 12.
One-day rouble-dollar futures, which trade on the Moscow Exchange and are a guide for OTC market rates, were up 0.1% at 91.28. The central bank's official exchange rate, which it calculates using OTC data, was set at 91.14 to the dollar.
The rouble was flat at 101.73 against the euro EURRUB=, LSEG data showed.
Brent crude oil LCOc1, a global benchmark for Russia's main export, was down 0.1% at $72.66.
Reporting by Gleb Bryanski; Editing by Kirsten Donovan
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