Russian rouble eases as oil price weakens

MOSCOW: The Russian rouble was weaker in morning trade on Monday, under pressure from weaker oil prices.

At 0832 GMT, the rouble was 0.37% lower at 90.74 to the dollar and had shed 0.66% to trade at 98.59 versus the euro. It was down 0.57% at 12.69 to the yuan.

Russian exporters completed payment of October taxes, for which they need to convert currency into roubles, last week.

Russian rouble slides to two-week low vs dollar as rally fades

“The passage of the tax period and the worsening situation in oil prices could put pressure on the rouble and contribute to its decline,” said Bogdan Zvarich from Banki.ru.

Brent crude oil, a global benchmark for Russia’s main export, was down 0.8% at $78.25 a barrel.

Russian stock indexes were also lower, with the dollar-denominated RTS index down 1.2% to 1,082 points and the rouble-based MOEX Russian index 0.88% lower at 3,115 points.