Russian rouble weakens vs dollar as U.S.-Russia talks wrap up in Riyadh

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Russian rouble weakens vs dollar as U.S.-Russia talks wrap up in Riyadh

, Reuters - 5:43 AM ET 3/25/2025 default

MOSCOW, March 25 (Reuters) - The Russian rouble weakened against the dollar on Tuesday as the market awaited an official announcement on the outcome of U.S.-Russia talks in Saudi Arabia.

By 0930 GMT, the rouble was down 1% at 84.75 against the dollar in the over-the-counter market. The Russian currency is up more than 25% this year.

The two countries have said the talks in Riyadh were focused on a proposal for a ceasefire between Russia and Ukraine in the Black Sea.

The rouble's rally since the start of the year has been fuelled by expectations of a peace settlement in Ukraine and easing of tensions between Russia and the United States.

Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was up 0.3% at 11.57 on the Moscow Stock Exchange. (Reporting by Gleb Bryanski; Editing by Alex Richardson)

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