Russian rouble weakens vs US dollar, China's yuan after two-day rally

MOSCOW, Feb 7 (Reuters) - The Russian rouble weakened against the U.S. dollar and China's yuan on Friday, after strengthening sharply in the two previous sessions.

At 0850 GMT, the rouble was down 0.4% to 97.10 against the dollar, according to data from the over-the-counter market. The rouble weakened 0.3% to 13.29 against China's yuan on the Moscow Stock Exchange (MOEX).

The rouble has strengthened by 12% against the dollar so far this year, despite new U.S. energy sanctions, on expectations of easing tensions in the longer term between Russia and the United States as well as lower demand for foreign currency from importers.

The rouble strengthened by about 3% in the sessions on February 5 and February 6 on news about possible talks between Russia and the United States on resolving the Ukraine conflict.

The last time the rouble traded around 97.00 to the dollar in a sustainable way was in October 2024. On February 6, the rouble hit its strongest level against the yuan since September 16, 2024.

The rouble also received support from increased sales of the Chinese yuan by the central bank. The regulator intervenes on the forex market to ensure there is enough liquidity.

One-day dollar/rouble futures, which trade on MOEX and serve as a guide for the over-the-counter exchange rate, were flat at 99.00. The Russian central bank set the official exchange rate at 96.91.