Trading activity on the Moscow Stock Exchange showed the ruble steadying after a morning retreat against the dollar, euro, and yuan. Market data from the Moscow Exchange confirms the shift as the session progressed.
At 11:05 Moscow time, the U.S. dollar was quoted around 92.41 rubles, marking a modest gain of 0.08%. The euro traded higher by about 0.2% at 84.87 rubles, while the yuan moved up to roughly 11.72 rubles, rising around 0.09%. These moves reflect a broader move in non‑commodity currencies as investors monitor domestic and international cues.
When trading opened on the Moscow Exchange, the dollar had surged nearly 3% to surpass the 87 ruble mark, signaling a bold start to the session. The euro also breached the 95 ruble threshold with a rise close to 3.2%, a notable move not seen since late March 2022. The yuan climbed above 12 rubles for the first time since early April 2023, rising just under 3% in early trades. These gains illustrate renewed risk appetite among some market participants and a rebalancing of demand for hard and emerging market currencies.
Earlier in the day, following a sharp uptick in the dollar and euro, Russian banks responded by adjusting their rate boards. Banks generally offered dollar quotes below the 90 ruble line and euro quotes just under 100 rubles, signaling liquidity adjustments and expectations for continued volatility in the FX market as the session unfolded.
As the morning progressed, large Russian banks displayed a pronounced price shift in their buy and sell rates. The highest selling prices for the dollar and euro reached around 105 and 115 rubles, respectively, while the lowest quotes hovered near 84.87 and 93.06 rubles. Such dispersion highlighted the ongoing balance between domestic policy signals, international risk sentiment, and hedging needs among financial institutions and corporate clients. Market observers noted that spreads remained wide, reflecting caution amid evolving global cues and local macrodata releases.
Overall, the session demonstrated the ruble’s sensitivity to both global liquidity conditions and domestic financial dynamics. Traders were assessing additional factors such as commodity prices, central bank commentary, and regional economic indicators as they navigated the day’s volatility. Analysts cautioned that while the ruble showed resilience, continued fluctuations were possible should external conditions shift or if new policy signals emerged from major economies. The Moscow Exchange continued to monitor liquidity conditions and price formation as part of its ongoing market operations.