MOSCOW: The Russian rouble was flat against the dollar on Wednesday ahead of a U.S. Federal Reserve statement that will be scrutinised for clues about U.S. monetary policy after jumping late on Tuesday when the oil price hit a 2016 high.
At 0730 GMT, the rouble was unchanged against the dollar at 65.19 and had slipped 0.2 percent to 73.86 versus the euro.
The rouble strengthened against the dollar and the euro on Tuesday evening when the oil price jumped after an American Petroleum Institute survey showed U.S. crude inventories falling, suggesting a market glut was abating.
On Wednesday, Brent crude oil, a global benchmark for Russia's main export, was holding at around $46.4 a barrel, close to its 2016 high.
Official weekly U.S. government data on oil inventories will be published later on Wednesday.
The oil price is also being supported by a weaker U.S. dollar, ahead of the Federal Reserve statement that is expected to signal a cautious attitude to higher U.S. interest rates.
"The dollar is under strong pressure across the whole spectrum of the forex market ... This is playing into the hands of the Russian currency, which has also received significant support from optimism on the oil market," said Instaforex analyst Igor Kovalev.
Russian shares saw gains in dollar terms but were flat in rouble terms, reflecting the strengthening of the rouble on Tuesday evening.
The dollar-denominated RTS index was up 1 percent to 941 points, while the rouble-based MICEX was unchanged at 1,949 points.
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