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Russian rouble steadies near 105 vs US dollar as market awaits OFZ trading resumption
The Russian rouble steadied near 105 to the dollar in Moscow on Monday with market participants focused on a planned resumption of OFZ treasury bond trading after the central bank held its key interest rate at 20% last week. The bank, which made an emergency rate hike in late February, said on Friday it would begin buying OFZ bonds when the Moscow Exchange resumed trading those papers on Monday, hoping to limit volatility. At 0728 GMT, the rouble was steady against the dollar at 104.83 and had lost 0.2% to trade at 115.01 versus the euro. In offshore markets, rouble bids were last indicated at 104.81 per dollar, ... (full story)