MOSCOW: The Russian rouble traded stronger early on Monday, with higher oil prices and exporter forex sales for end-of-month tax payments offsetting global market uncertainty linked to Brexit.
At 0722 GMT, the rouble was 0.2 percent stronger against the dollar at 65.12 and had gained 0.7 percent to trade at 71.95 versus the euro.
Brent crude oil, a global benchmark for Russia's main export, was up 0.8 percent at around $48.8 a barrel.
Both Brent and the rouble suffered steep losses on Friday as markets panicked in response to Britain's vote to leave the European Union.
The mood on global markets was still febrile on Monday, with Asian stocks falling and the British pound under seige.
In Russia the end-of-month tax period meant the rouble felt more comfortable than some emerging-market peers, however.
"The rouble is enjoying support from the looming tax payments," Maxim Korovin at VTB Capital said in a note.
Russian firms are to pay value-added tax, mineral-extraction tax and excise taxes on Monday, while profit tax is due on Tuesday.
The rouble is typically boosted by the taxes as exporters convert a portion of their dollar revenues into roubles to make the payments to the state budget.
Russian share indexes edged lower early on Monday, reflecting weak sentiment on equity markets worldwide.
The dollar-denominated RTS index was down 0.3 percent to 909 points, while the rouble-based MICEX was also 0.3 percent lower at 1,879 points.
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