MOSCOW: The Russian rouble firmed slightly in early trade on Tuesday thanks to steady oil prices, while stock indexes inched higher, pricing in gains in the U.S. stock market.
At 0716 GMT, the rouble gained 0.13 percent to 62.10 against the dollar and added 0.1 percent to trade at 67.55 versus the euro.
The rouble may strengthen further thanks to month-end tax payments that usually prompt export-focused companies to convert their foreign currency revenues into roubles to meet local duties.
Russian assets could also see some support from Moody's as the rating agency has changed outlook on Russia's banking system to stable from negative.
The central bank rate decision will be in focus later this week. Even though the Bank of Russia has promised keep the key rate unchanged at 10 percent by the end of this year, market players will be closely watching a statement on the rate decision for further guidance.
Russian markets, however, lacked some on Tuesday as oil prices, their key driver, remained flat. Brent crude futures were 0.1 percent higher at $51.50.
The dollar-denominated RTS index was up 0.24 percent at 996.24 points, while the rouble-based MICEX was steady at 1962.81.
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