MOSCOW, June 13 Reuters New U.S. sanctions that forced Russia39;s leading exchange to halt dollar and euro trading led to a range of varying prices and spreads as trading moved overthecounter OTC on Thursday, obscuring access to reliable pricing for the Russian currency.

The rouble fell to a onemonth low of 91.7455 against the dollar in very low liquidity on the interbank market.

But dollarrouble futures, which continued trading on Moscow Exchange as a derivative instrument, had gained around 2.4 at 0809 GMT and hit a high of around 86.00 in volatile trading.

The central bank will publish the official daily rate, based on OTC trading, closer to 1400 GMT. According to the bank, dollar and euro turnover on the OTC market, where deals are conducted directly between two parties, had long exceeded the volumes on MOEX, Russia39;s leading financial marketplace.

The rouble39;s previous close, on the eve of Wednesday39;s national holiday, was 89.10 to the dollar .

The U.S. sanctions on Wednesday led to an immediate suspension of trading in dollars and euros on MOEX, within an hour of Washington announcements aimed at cutting the flow of money and goods used to sustain Russia39;s war in Ukraine.

The Russian central bank also suspended trading in the Hong Kong dollar, which is pegged to the U.S. dollar, but was keen to downplay the possible impact of sanctions.

Over the past two years, the role of the US dollar and the euro in the Russian market has been consistently…

Leave A Comment