Yuan ends October 21 Moscow trading at 12.2255 roubles

The yuan fell to 12.2255 roubles at the close of Moscow Exchange trading on October 21, down 0.97%. The rouble strengthened against major currencies for a fourth consecutive session, Interfax reported.

The USDRUBF dollar futures contract fell 1.2% to 81.69 roubles in the evening trading snapshot. The equivalent EURRUBF euro contract lost 1.27% to 91.6 roubles. These are futures quotations, distinct from Bank of Russia official exchange rates.

For October 22, the central bank set the dollar at 81.9739 roubles, the euro at 91.9337 roubles and the yuan at 12.2806 roubles.

Finam analyst Nikolai Dudchenko linked support for the rouble to high oil prices, geopolitical expectations and the high policy rate. He said Finance Ministry foreign-currency purchases under the budget rule were working in the opposite direction, with net purchases rising to 12.1 billion roubles a day in October.

PSB analyst Bogdan Zvarich noted a recovery in exporters' currency supply as revenue from higher September oil prices arrived and companies prepared for October tax payments. His view that the rouble could strengthen further is a forecast.

Oil prices turned lower in the evening after gains earlier in the day. December Brent was 108.46 dollars a barrel, down 0.3%, while WTI was 96.98 dollars a barrel, down 0.86%.

In the short-term interbank market, RUONIA for October 20 declined by 3 basis points to 13.97%. Its month and half-year term versions were 14.05% and 14.58%, while the three-month measure stood at 14.16%.