MOSCOW: The rouble headed for its lowest level so far this month on Monday, tracking other emerging market currencies, as oil prices gave up earlier gains.
Having firmed at the market opening, the rouble shed 0.4 percent to 59.46 as of 1038 GMT. It briefly eased to 59.56 versus the dollar, stopping a notch away from its weakest level since mid-November, 59.59, hit last week.
Against the euro, the rouble weakened 0.2 percent to 69.24 , a level last seen on Sept. 21.
The rouble is pressured by weakening of emerging market currencies against the dollar on the global market, which could be driven by an intention to lock in profits, said Igor Akinshin, a dealer at Alfa Bank.
The rouble has chances to weaken beyond the 60 mark against the dollar should oil prices drop further, he said.
Brent crude oil futures were down 0.4 percent to $63.25, still well above levels of around $45 seen a year ago.
The rouble also feels downward pressure from domestic factors. Central bank data showed last week that net capital outflows totalled $2.9 billion in October as the season of foreign debt repayment kicked in.
According to the data, Russian banks and companies have to redeem a net $23.5 billion of foreign debt in the fourth quarter.
A move by the finance ministry to increase daily purchases of foreign currencies to the equivalent of 5.8 billion roubles ($98.1 million) in November from 3.5 billion roubles a month earlier also put pressure on the currency.
Russian stock indexes were mixed, lacking impetus. The dollar-denominated RTS index was down 0.3 percent at 1,153.3 points, while the rouble-based MICEX rose 0.4 percent to 2,177 points.
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