Russian rouble strengthens ahead of central bank's rate decision

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Russian rouble strengthens ahead of central bank's rate decision

, Reuters - 4:58 AM ET 3/21/2025 US Markets

MOSCOW, March 21 (Reuters) - The Russian rouble strengthened slightly against the U.S. dollar on Friday ahead of the central bank's rate-setting meeting, following a two-day correction that interrupted the rally fuelled by talks between the United States and Russia.

By 0840 GMT, the rouble was up 0.5% at 84.52 against the dollar in the over-the-counter market. The Russian currency had lost about 4% against the dollar over the previous two days, but has still gained more than 25% this year.

Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was down 0.6% at 11.56 on the Moscow Stock Exchange.

The Russian central bank is expected to keep the key interest rate on hold at 21% during its meeting on Friday, according to a Reuters poll of economists conducted earlier this week.

Meanwhile, the rouble is anticipated to gradually retreat after its rally at the start of the year. (Reporting by Gleb Bryanski)

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