Banki.ru has introduced an online currency purchase service that allows users to book and pay for cash foreign currency, with the first partner being Kamkombank.
The Japanese yen rose 0.6% to 157.95 per dollar following warnings of potential intervention and reports of US-Japan coordination to address currency weakness.
UBS Asset Management portfolio manager Kevin Zhao plans to sell the yen if Japanese authorities intervene, citing structural weakness despite the recent rate hike.
The Bank of Japan raised rates to 1.25%, the highest level since 1995, while facing conflicting demands from Prime Minister Sanae Takaichi and US Treasury Secretary Scott Bessent.
Chinese regulators are pushing banks to raise corporate currency hedging ratios to 40% to mitigate risks from yuan volatility.
U.S. Treasury Secretary Scott Bessent is pressuring markets to align with his yen-strengthening strategy, citing close coordination with Japanese policymakers.
