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Markets

Russian rouble stable as dollar pauses after rally

Published August 31, 2016 Updated August 31, 2016 08:33am

imageMOSCOW: The rouble was little changed early on Wednesday as the dollar paused after a rally, while Russian shares dipped in line with a slight fall in global oil prices.

At 0730 GMT, the rouble was less than 0.1 percent weaker against the dollar at 65.27 but was less than 0.1 percent stronger at 72.70 versus the euro.

Russia's dollar-denominated RTS index was down 0.3 percent to 955 points, while the rouble-based MICEX was down a similar amount at 1,979 points.

Analysts said market sentiment could shift after U.S. jobs data due on Friday.

Brent crude oil, a global benchmark for Russia's main export, was 0.4 percent lower at around $48.2 a barrel.

The rouble is up over 1 percent against the dollar this month thanks to recent gains in oil prices, although it has fallen back since Friday on rising expectations the U.S. Federal Reserve will raise interest rates this year.

Copyright Reuters, 2016

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