BR100 Decreased By (-0.3%)
BR30 Decreased By (-0.22%)
KSE100 Decreased By (-0.25%)
KSE30 Decreased By (-0.33%)
AGHA 7.80 Decreased By ▼ -0.01 (-0.13%)
BECO 5.18 Decreased By ▼ -0.03 (-0.58%)
BML 57.99 Increased By ▲ 0.49 (0.85%)
BOP 34.12 Increased By ▲ 0.09 (0.26%)
CNERGY 9.92 Decreased By ▼ -0.04 (-0.4%)
CSIL 5.33 Increased By ▲ 0.02 (0.38%)
FCCL 54.40 Decreased By ▼ -0.30 (-0.55%)
FFL 16.71 Increased By ▲ 0.02 (0.12%)
FNEL 1.25 Increased By ▲ 0.02 (1.63%)
KEL 7.31 Decreased By ▼ -0.09 (-1.22%)
KOSM 5.72 Decreased By ▼ -0.05 (-0.87%)
LOTCHEM 29.50 Increased By ▲ 0.18 (0.61%)
MLCF 93.54 Decreased By ▼ -0.82 (-0.87%)
NBP 202.00 Decreased By ▼ -1.05 (-0.52%)
NCPL 56.85 Decreased By ▼ -0.15 (-0.26%)
NPL 67.60 Decreased By ▼ -0.10 (-0.15%)
OGDC 316.00 Increased By ▲ 0.16 (0.05%)
PACE 10.66 Increased By ▲ 0.02 (0.19%)
PAEL 42.90 Decreased By ▼ -0.30 (-0.69%)
PIBTL 16.62 Decreased By ▼ -0.12 (-0.72%)
PPL 218.70 Decreased By ▼ -1.08 (-0.49%)
PRL 49.50 Increased By ▲ 0.31 (0.63%)
PTC 70.50 Decreased By ▼ -0.03 (-0.04%)
SSGC 27.90 Decreased By ▼ -0.35 (-1.24%)
TBL 9.75 Decreased By ▼ -0.11 (-1.12%)
TELE 8.71 Decreased By ▼ -0.08 (-0.91%)
TPL 18.10 Decreased By ▼ -0.14 (-0.77%)
TPLP 13.35 Increased By ▲ 0.08 (0.6%)
TREET 22.70 Decreased By ▼ -0.02 (-0.09%)
TRG 60.00 Decreased By ▼ -0.14 (-0.23%)
Markets

Russian rouble edges up as tax payments begin

Published Updated

Moscow: The Russian rouble firmed on Monday, supported by the start of local month-end tax payments.

At 0745 GMT, the rouble was 0.23 percent stronger against the dollar at 64.21, having briefly touched 64.05 in early trading, a level not seen since March 26.

The Russian currency also gained 0.06 percent to trade at 72.66 versus the euro.

The rouble will be supported by the local tax payments and Russian assets may strengthen further if there is no significant news on global markets, analysts at Rosbank said in a note.

Tax payments, which begin on Monday and run until the end of the month, usually prompt export-focused companies to convert foreign currency to meet local liabilities.

"The dollar/rouble rate will probably try to break through the level of 64.0 during the week," the Rosbank analysts said.

Oil prices slipped but held near the previous session's  five-month high.

Brent crude oil, a global benchmark for Russia's main export, was down 0.22 percent at $71.39 a barrel.

Russian stock indexes rose.

The dollar-denominated RTS index was up 0.45 percent at 1,259.04 points. The rouble-based MOEX Russian index was 0.27 percent higher at 2,566.44 points.

Copyright Reuters, 2019

Comments

Comments are closed for this article.