Rouble firms ahead of Fed, VTB shares outperform after Q3 results

MOSCOW: The Russian rouble firmed slightly on Thursday helped by higher oil prices ahead of results of the U.S. Federal Reserve policy meeting, while shares in Russia's second-largest lender VTB outperformed on strong financial results.

The rouble was up 0.2 percent to 66.18 versus the dollar as of 0710 GMT and up 0.4 percent to 75.56 versus the euro.

"Today, the FOMC rate decision and accompanying press release takes centre stage," VTB Capital said in a note, referring to the U.S. Federal Open Market Committee.

The Fed is not expected to raise rates at the meeting which follows renewed volatility in stock prices, tighter credit markets and a spreading expectation that the U.S. economy will slow next year.

Brent crude oil, a global benchmark for Russia's main export, was up 0.2 percent at $72.19 a barrel, providing support to Russian assets.

Russian stock indexes were stable. The dollar-denominated RTS index was steady at 1,164.8, while the rouble-based MOEX Russian index was virtually unchanged at 2,445.16.

Shares in VTB outperformed by gaining 1 percent on the day after the bank said it had more than doubled its net profit in the third quarter.