MOSCOW: The Russian rouble was little changed against the US dollar on Wednesday as investors awaited further developments on talks between Moscow and Washington on ending the war in Ukraine.
At 0830 GMT, the rouble was up 0.3% at 91.25 against the dollar on the Moscow Exchange, close to a five-month high reached last week. But some analysts urged caution and said excessive optimism was premature.
“The events are bringing an excessively optimistic mood and volatility to the market,” BSC brokerage analysts said. “It too early to talk about real changes.”
Russian rouble weakens as Russia-US talks begin in Riyadh
The rouble was also up 0.2% against China’s yuan, the most traded foreign currency in Russia. The Russian currency has gained about 20% against the dollar this year, mostly on expectations of easing geopolitical tensions between Russia and the West.