June 14 (Reuters) - The Russian rouble weakened sharply on Wednesday for the second session running, sliding to a more than 14-month low past the 85 mark against the dollar, weighed down by limited foreign currency supply in a reduced-liquidity market.
At 0656 GMT, the rouble was 0.6% weaker against the dollar at 84.84, earlier hitting 85.03, its weakest point since early April 2022.
It had lost 0.6% to trade at 91.48 versus the euro and had shed 0.7% against the yuan to 11.82 , an around seven-week low against both currencies.
The market has seen reduced turnover and become susceptible to sharp swings since Moscow was targeted with sweeping Western sanctions over its military campaign in Ukraine, with fewer foreign investors able to access Russian markets.
A trader at a large Russian bank on Tuesday told Reuters that everyone was waiting for the rouble to strengthen again once exporters, for whom a weak rouble is beneficial, begin to convert foreign exchange revenues to pay local taxes later in the month.
"We associate the current dynamics of the exchange rate more with temporary factors and suggest that when exporters return to more active sales of foreign currency revenues, the rouble may return nearer to 80 against the dollar," Raiffeisen Bank analysts said.
Brent crude oil, a global benchmark for Russia's main export, was up 0.4% at $74.61 a barrel.
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(Reporting by Alexander Marrow Editing by Mark Potter)
