Russian rouble weakens further, crosses 100-mark vs euro

MOSCOW, Sept 11 (Reuters) - The Russian rouble continued to weaken against the dollar and the euro on Thursday ahead of the central bank's rate-setting meeting scheduled for September 12, crossing a 100-mark against the euro for the first time since March.

By 0930 GMT, the rouble RUB= was down 0.6% at 85.10 against the dollar, according to LSEG data based on over-the-counter quotes, and traded at 99.69 against the euro, regaining some ground after weakening to 100.45 during the session.

The rouble gained 0.2% to trade at 11.84 against the Chinese yuan, the most traded foreign currency in Russia, on the Moscow Stock Exchange, after weakening past the 12-mark against yuan earlier in the session.

The rouble has lost 5% against the dollar since the start of the week. Analysts said the move was linked to an expected interest rate cut by the central bank on Friday, rising demand for imports and renewed threats of Western sanctions.

"The rouble's weakening this week is expected by the market amid declining export revenues, a revival of imports, and the gradual reduction of the key interest rate with another cut expected on Friday,” said Maxim Timoshenko from Russian Standard Bank.