Russian rouble weakens vs US dollar after previous session's surge
MOSCOW, May 30 (Reuters) - The Russian rouble weakened on Friday after surging to a two-year high in the previous session, mostly on optimism over a new round of talks between Russia and Ukraine, which may take place in Istanbul next week.
By 0850 GMT, the rouble RUB= was down 2.7% at 79.00 per U.S. dollar, LSEG data based on over-the-counter quotes showed. On May 29, the rouble closed at 76.90, its strongest since May 2023.
Russia has proposed holding the next round of direct talks with Ukraine in Istanbul on June 2. The rouble has firmed by more than 40% against the dollar this year, a rise analysts have attributed to the easing of geopolitical tensions.
Analysts on Friday questioned the market's optimism on talks in Istanbul.
"The rise of the rouble (on Thursday) does not seem logical. The very fact of the meeting (in Istanbul) taking place is in doubt, and previously the rouble reacted quite passively to more positive developments," Alor brokerage analysts said.
Against the Chinese yuan, the rouble was down 0.3% at 10.89 on the Moscow Stock Exchange. Russia's central bank uses yuan for foreign exchange interventions, and it is the most traded foreign currency in Russia.
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