MOSCOW: The Russian rouble rose on Thursday, boosted by the oil price which has regained ground after falling earlier in the week. At 0725 GMT, the rouble was 0.9 percent stronger against the dollar at 65.94 and had gained 1 percent to 75.69 versus the euro.
The rouble had fallen over 2 percent against the dollar early on Wednesday, the first day after a long holiday weekend during which the oil price had slid, but a recovery in oil later in the day reversed most of the rouble's losses.
Oil and the rouble were boosted by weekly US government data showing a continuing decline in US output.
On Thursday Brent crude oil, a global benchmark for Russia's main export, was up 2.2 percent at $45.6 a barrel.
MFK Broker analyst Alexander Grichenkov predicted in a note that Brent would consolidate in the range $44-47 a barrel, corresponding with a rouble value of 65.5-67.5 against the dollar.
Russian share indexes were mixed.
The dollar-denominated RTS index was up 0.2 percent to 915 points, while the rouble-based MICEX was 0.5 percent lower at 1,916 points.
Comments
Comments are closed for this article.