Rouble rebounds past 100 vs US dollar after Putin's gas payments decree

By Gleb Bryanski and Elena Fabrichnaya

MOSCOW (Reuters) - The Russian rouble rebounded past 100 to the U.S. dollar, trading at 99.50 on Friday, after a decree by President Vladimir Putin which opened new payment options for European buyers of Russian gas, allowing foreign currency flows to resume.

The rouble strengthened by 1.5% against the dollar, according to over-the-counter data from banks. It was also up by 2.4% at 13.57, rebounding past 14, against China's yuan in trade on the Moscow stock exchange.

Putin's decree meant that European buyers of Russian gas, including Hungary and Slovakia, who previously used Gazprombank for their transactions, could now convert their currency into roubles in other banks that are not under sanctions.

U.S. sanctions imposed on Gazprombank on Nov. 22 disrupted Russia's foreign currency market, leading to a 15% fall in the rouble exchange rate against the dollar.

https://finance.yahoo.com/news/rouble-rebounds-past-100-vs-123931137.html

Pooty Poot passes gas.