MOSCOW: The Russian rouble was mixed early on Tuesday, rising against the dollar but falling against the euro, and analysts said its direction would mainly be determined by oil price movements.
At 0725 GMT, the rouble was 0.1 percent stronger against the dollar at 66.82 but had lost 0.3 percent to trade at 74.87 versus the euro.
Brent crude oil, a global benchmark for Russia's main export, was up 0.3 percent at around $42.3 a barrel after steep falls on Monday.
Despite the slightly higher prices on Tuesday, oil market data implies bearish market conditions, which could mean losses are in store for Russian assets.
"The oil factor remains dominant for the rouble," analysts at Rosbank said in a note.
The Russian currency lost around 3 percent against the dollar last month and on Monday lost a further 1 percent.
Investors converting rouble-denominated dividends into foreign currency is a factor that is weighing on the rouble.
Russian share indexes were lower on Tuesday, mirroring weaker European and Asian markets.
The dollar-denominated RTS index was down 1.2 percent to 911 points, while the rouble-based MICEX was 0.8 percent lower at 1,932 points.
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