Overview
- On November 21, the Moscow Exchange index rose 2.16% to 2,685.03 and the RTS added 4.37% to 1,070.35.
- The off-exchange dollar benchmark hit about 78.49, its first move below 79 since October 29, while the yuan eased to roughly 11.09 on the Moscow Exchange.
- Pricing for the dollar is derived from the dollar–yuan cross and the yuan–ruble rate during MOEX trading hours due to constraints on direct dollar trading.
- Market optimism has been linked to reports of progress on a US-proposed Ukraine settlement, though investors are still looking for official confirmations.
- Analysts expect near-term volatility with a dollar range around 77–82 rubles and flag risks from new US sanctions on major oil exporters and softer oil prices; stock moves included Bashneft gains before results and a drop in Tatneft.