Russian rouble strengthens vs US dollar, ignores trade wars

MOSCOW, Feb 4 (Reuters) - The Russian rouble strengthened against the U.S. dollar on Tuesday, even as the U.S. currency gained on the global market following the implementation of U.S. tariffs on Chinese goods.

At 0815 GMT, the rouble RUB= was up 0.8% at 99.00 against the dollar, according to data from the over-the-counter market. It remained steady at 13.27 against China's yuan in trading on the Moscow Stock Exchange (MOEX).

Analysts said the rouble, insulated from global forex movements by Western sanctions and domestic currency controls, demonstrated more resilience to trade war news than many other emerging currencies. It also showed no reaction to lower prices for oil, Russia's main export commodity.

"The reasons for the rouble's stability are sufficient currency liquidity, the absence of non-residents, and the lack of arbitrage," said analysts from BCS brokerage. The rouble had weakened by 1.2% against the dollar on Monday.

Analysts expected the rouble to start weakening against the yuan later this week as trade flows resume after the end of China's Lunar New Year holiday.

The yuan has become the most traded foreign currency in Russia since Western sanctions were imposed on MOEX in June last year. The central bank is also using the yuan for market interventions.

One-day dollar/rouble futures, which trade on MOEX and serve as a guide for the over-the-counter exchange rate, were down 0.2% at 99.48. The Russian central bank set the official exchange rate at 99.94.