Russian rouble strengthens against dollar, tracking higher oil prices
MOSCOW, June 16 (Reuters) - The Russian rouble strengthened against the U.S. dollar on Monday, following a surge in oil prices due to potential supply risks from the Israel-Iran conflict.
By 1200 GMT, the rouble RUB= was up 1.3% at 78.65 per U.S. dollar, according to LSEG data based on over-the-counter quotes. The Russian currency is up by about 40% against the dollar since the start of the year.
Analysts, most of whom consider the rouble overvalued, noted that the new geopolitical risks have reduced the likelihood of new sanctions against the Russian energy sector, which G7 leaders were scheduled to discuss at their meeting in Canada.
"The current situation may also affect the discussion of new sanctions on Russian oil, possibly postponing the decision on their implementation," said Sofya Donets from T-Bank.
Against the Chinese yuan, the most traded foreign currency in Russia, the rouble weakened by 0.2% to 10.90 on the Moscow Stock Exchange.
Related Articles
Lululemon’s Valuation Reset: Why Market Sentiment Diverges from Fundamentals
TradingKey - Lululemon has been almost synonymous with category-defining athletic apparel that carries both cultural prestige and premium valuation multiples.
Is Capital Fleeing the Stablecoin Market? Ark Invest Dumps Over $40 Million in Circle Stock Again!
Ark Invest has aggressively sold Circle shares for two consecutive days, putting pressure on the stock price. The GENIUS Act could be the key factor influencing its future performance.
Fed June Meeting Preview: The First Dot Plot Since Trump’s Tariffs – What Changes and What Doesn’t
TradingKey - On Wednesday, June 18, the Federal Open Market Committee (FOMC) will announce its latest monetary policy decision. Markets widely expect the Federal Reserve to keep interest rates unchanged, with the federal funds rate likely to remain at 4.25%–4.5% for the fourth consecutive meeting si
Warren Buffett’s 2025 Portfolio: A Defensive Giant Balancing Legacy Bets with Strategic Discipline
TradingKey - As of March 31, 2025, Warren Buffett’s Berkshire Hathaway holds a $258.7 billion equity portfolio spread across 36 stocks. The Oracle of Omaha hasn’t made a new buy this quarter, and turnover remains minimal at 1%.
