Tuesday, 04 September 2012 16:06
MOSCOW: The rouble firmed in early trade on Tuesday, buoyed by rising oil prices and a global increase in risk appetite on hopes that the European Central Bank this week will reveal new measures to ease debt strains in the euro zone.
By 0741 GMT, the rouble gained 0.8 percent to 32.11 versus the dollar heading away from its weakest since early August of 32.65 hit last week.
Against the euro, the rouble firmed 0.3 percent to 40.52 and strengthened 0.6 percent to 35.90 against the euro-dollar basket, the central bank's gauge of the currency market.
"The rouble is supported by oil prices and by an improving situation in the external market, particularly thanks to hopes that the ECB and European officials will make active steps to stabilise the markets," said Anton Zakharov, an analyst at Promsvyazbank.
Brent crude futures climbed towards $116 per barrel two days before the widely-awaited ECB meeting where its ...