MOSCOW: The Russian rouble eased slightly in early trade on Friday, deprived of support from month-end tax payments that finished earlier this week.
The rouble lost 0.2 percent of its value, falling to 58 against the dollar as of 0743 GMT, after bouncing from its weakest point in September of 58.59 it hit the day before.
VTB Capital said in a note to clients the rouble recovered from this month's lows thanks to international investors who were seen selling dollars when the rouble headed to 58.6.
The rouble, which moved broadly in line with its emerging market peers, came under pressure this week from a local deficit of dollars.
Oil prices, however, create favourable conditions for the rouble, which hat lost its usual support from monthly taxes that were paid earlier this week. Month-end taxes prompt export-focused companies to convert part of their dollar revenues to meet local liabilities.
Brent crude oil, a global benchmark for Russia's main export, was up 0.1 percent at $57.5 a barrel, heading higher after three days of declines.
On the stock market, shares in Russia's largest air carrier, Aeroflot underperformed, losing 1.8 percent, after the government ordered the state-controlled company to help private carrier VIM Airlines after the latter asked for financial aid from the state.
The rouble-based MICEX benchmark stock index was 0.1 percent higher at 2,072.8, while the dollar-denominated RTS was little changed at 1,125.9.
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