Russian rouble regains some ground lost in 'autumn slide'
MOSCOW, Oct 11 (Reuters) -The Russian rouble strengthened further on Friday after rallying by 1.2% against China's yuan in the previous session but remained at one-year lows against all major currencies following a slide in recent weeks.
At 0800 GMT, the rouble was up 0.5% against the yuan at 13.55, according to LSEG data. In trade on the Moscow Stock Exchange (MOEX), the rouble was up 0.51% at 13.48 to the yuan.
The rouble RUB= was up 0.5% at 96.10 against the dollar, LSEG data showed. The Russian currency lost about 15% between Sept. 6 and Oct. 10 against major currencies in what some analysts have called an "autumn slide".
Analysts pointed to several factors behind the rouble's weakness, including the Oct. 12 expiry of a license from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) which allowed commercial banks to deal with MOEX.
The license was issued to allow banks to wind down operations with MOEX after Western sanctions on the exchange and its clearing agent, the National Clearing Centre, were introduced on June 12.
The sanctions stopped all trade in dollars and euros at MOEX, making China's 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.
There is concern in the market that Chinese banks providing yuan liquidity for exchange trading could pull out for compliance reasons after the OFAC license expires.
Traders said that active forex purchases in recent days were linked to the deal to sell the Russian business of Unilever, which became the latest multinational company to exit Russia since its invasion of Ukraine.
Russia raising the one-off contribution that foreign companies leaving the country must make to the state treasury to as high as 35% from 15%, reported on Oct. 10, supported the rouble on Thursday and Friday, traders said.
One-day rouble-dollar futures, which trade on the Moscow exchange and are a guide for OTC market rates, were up 0.68% at 95.18. The central bank's official exchange rate, which it calculates using OTC data, was set at 97.23 to the dollar.
The rouble was flat at 105.73 against the euro EURRUB=, LSEG data showed.
Brent crude oil LCOc1, a global benchmark for Russia's main export, was down 0.97% to $78.53 a barrel.
Reporting by Gleb Bryanski; Editing by Mrigank Dhaniwala
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