MOSCOW: The Russian rouble strengthened on Thursday morning, as the oil price held above $60 per barrel and investors awaited details of a European Central Bank bond-buying programme.
At 0800 GMT, the rouble was around 0.3 percent stronger at 61.77 against the dollar and had gained 0.6 percent to 68.28 versus the euro.
Brent oil prices remained above $60 per barrel at around $60.4. "This level of oil is quite comfortable for the rouble," VTB Capital analysts said in a note.
The European Central Bank holds a policy meeting later in the day where details of its bond-buying programme, which could affect flows of funds into emerging markets, such as Russia, are likely to be announced.
"Players on the market are in a state of impatience, awaiting publication of the results of the ECB meeting," Rossiysky Capital analyst Anastasia Sosnova said in a note.
Russian stock indexes were mixed, reflecting the impact of the stronger rouble. The dollar-based RTS index was up 0.7 percent to 895 points, while the rouble-based MICEX was down 0.2 percent to 1,756.
Indexes had fallen around 3 percent on Wednesday, in part because of the extension of Ukraine-related sanctions against Russia by the United States.
"Russian stock indexes could even correct upwards following the grandiose fall on the previous day," Sosnova said.
"A positive factor for Russian market participants is the fact that Brent continues to trade in the range $60-63 per barrel."
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