MOSCOW: The Russian rouble eased slightly on Thursday but remained above two-week lows it hit the day before, gaining support from higher oil prices and a decline in global risk aversion, while stocks hit yet another high.
The rouble was 0.2pc weaker at 65.09 versus the dollar as of 0745 GMT, away from its weakest level since mid-May of 65.40 it touched in the previous session.
The Russian currency nosedived on Wednesday but soon regained ground after US Special Counsel Robert Mueller's said he did not intend to speak anymore about his report on Russian interference in the 2016 US presidential elections.
The rouble has apparently received support from a lack of sharp statements in Mueller's speech, said Rosbank, a subsidiary of Societe Generale in Moscow.
"We do not tend to expect a serious weakening in the rouble in the short term as the trend for lower rates by the central bank and high oil prices will support the appeal of Russian assets," Rosbank said.
The central bank is widely expected to lower its key rate, now at 7.75pc, later this year as inflation has started to slow down towards its 4pc target.
Versus the euro, the rouble was 0.2pc weaker at 72.46 .
Brent crude oil, a global benchmark for Russia's main export, rose 0.6pc at $69.83 a barrel, up from this month's low of $67.02.
Russian stock indexes extended gains.
The rouble-based MOEX was 0.7pc higher at 2,659.6 points after hitting a fresh record high of 2,662.15.
The dollar-denominated RTS index was up 0.9pc to 1,287.3 points.
Shares in Russia's gas giant Gazprom jumped 2pc on the day after the company reported at 44pc increase in the first quarter net profit.
Shares in Russia's second-largest lender VTB were up 0.8pc as the bank reported a decline in its profit in the first three months of 2019.
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