Russian rouble rises against US dollar after Trump-Putin call
MOSCOW, May 20 (Reuters) - The Russian rouble strengthened to just above 80 against the U.S. dollar on Tuesday, following a call between United States President Donald Trump and Russian President Vladimir Putin on ceasefire talks in Ukraine.
By 0740 GMT, the rouble RUB= was up 0.5% at 80.30 per U.S. dollar, LSEG data based on over-the-counter quotes showed. The Russian currency has risen more than 40% against the dollar this year.
Most analysts view the rouble as overvalued and anticipate a correction following its rally since the start of the year. The rally has been mainly driven by expectations of a peace accord between Russia and Ukraine, as well as of improved relations with the United States.
"No sanction threats from Donald Trump have been heard so far. This has led to the fact that there was no market correction," Alor brokerage analysts said in a research note.
Against the Chinese yuan, which Russia's central bank uses for its foreign exchange interventions and is the most-traded foreign currency in Russia, the rouble was down 0.5% at 11.13 per yuan on the Moscow Stock Exchange.
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