MOSCOW: The rouble strengthened in early trading on Monday, supported by the approaching end-of-month tax period and shrugging off a decision by the central bank to alter its exchange-rate policy.
At 0640 GMT, the rouble was 0.21 percent stronger against the dollar at 36.05 and gained 0.23 percent to trade at 48.27 versus the euro.
That left the currency 0.22 percent stronger at 41.55 against the dollar-euro basket.
The central bank said it had widened its exchange-rate corridor for the rouble by 2 roubles to 9 roubles to allow the currency more flexibility.
It also reduced the intervention threshold for moving the rouble corridor to $350 million from $1 billion, moving closer to its aim of moving towards a freely floating exchange rate.
Russian shares were also stronger in early trading, with the dollar-denominated RTS index up 0.7 percent at 1,240 points and its rouble-based peer MICEX 0.2 percent higher at 1,420 points.
Comments
Comments are closed for this article.