MOSCOW: The Russian rouble opened higher on Wednesday, helped by global oil prices which rose on expectations of a reduction in crude inventories in the United States.
At 0730 GMT, the rouble was 0.6 percent stronger at 61.08 against the dollar and had gained 0.4 percent to trade at 63.58 versus the euro.
Brent crude oil, the global benchmark for Russia's main export commodity, was up 0.6 percent to $55.70 a barrel as traders predicted that data to be released on Wednesday would show a U.S. crude stockpile draw, though activity was muted as markets wind down ahead of the Christmas weekend.
"We see the rouble in the range of 61-62 per $1 by year-end, provided there are no significant changes in oil (prices) globally," analysts at ING bank said in a note.
Russian share indexes also rose.
The dollar-denominated RTS index was up 0.8 percent at 1,151 points, while the rouble-based MICEX was 0.3 percent higher at 2,232 points.
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