The Russian rouble hovered near 100 to the US dollar on Monday after reports that the US administration had decided to allow Ukraine to make strikes with US weapons deep into Russia.
By 0830 GMT, the rouble RUB= was steady at 99.90 against the dollar and 105.48 to the euro EURRUB=, according to LSEG data. The Russian currency weakened 0.6% against the yuan to 13.77 in trade on the Moscow stock exchange.
"Today, amid renewed geopolitical uncertainty, volatility in the currency market may increase again," BCS brokerage analysts said.
The rouble and the Russian stock market started rising on Friday in what some analysts called a "Scholz rally," following German Chancellor Olaf Scholz's first conversation with Russian President Vladimir Putin in nearly two years on Friday.
Analysts said a reversal of these gains was likely following reports about the US administration's decision on missiles.