Russian rouble flat as central bank sees continued strong forex sales
MOSCOW, Oct 31 (Reuters) -The Russian rouble was flat against the U.S. dollar and the Chinese yuan on Thursday as the central bank's governor said that Russian exporting companies were selling foreign currency at levels above mandatory sales requirements.
At 0845 GMT, the rouble RUB= was flat at 96.80 against the dollar. It was also flat at 13.44 against the yuan CNYRUB=, according to LSEG data. The rouble weakened by 0.1% to 105.45 against the euro EURRUB=.
"Despite the reduction in mandatory sales requirements, they are still selling 66% (of their forex earnings), even above the norm because they need to cover their rouble expenses here," the central bank's governor Elvira Nabiullina told parliament.
Brent crude oil LCOc1, a global benchmark for Russia's main export, edged up 0.15%, to $72.66 a barrel, as reports that OPEC+ may delay a planned output increase offered support.
Western sanctions imposed on the Moscow Stock Exchange (MOEX) and its clearing agent, the National Clearing Centre, on June 12 stopped all trade in dollars and euros at MOEX, making the yuan the most-traded foreign currency in Russia.
Trade in dollars and euros has shifted to the over-the-counter (OTC) market, obscuring price data.
One-day rouble-dollar futures, which trade on the Moscow exchange and are a guide for OTC market rates, were also flat at 96.92. The central bank's official exchange rate, which it calculates using OTC data, was set at 97.05 to the dollar.
Reporting by Gleb Bryanski; Editing by Alex Richardson
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