Rouble down ahead of state FX selling plan, MOEX highest since Jan

MOSCOW: The Russian rouble eased on Thursday ahead of the finance ministry's announcement of foreign currency sales for the month ahead, while stock indexes hovered near multi-month highs.

The rouble shed 0.2pc to 75.22 against the dollar as of 0745 GMT, moving away from its strongest level since Sept. 18 of 75.07 that it hit on Wednesday.

The finance ministry is in focus as it will reveal the FX selling plan for December and early January. FX sales have helped to ease volatility in the rouble, which tanked this year under pressure from lower oil prices and the COVID-19 crisis.

Versus the euro, the rouble weakened 0.4pc to 91.20, trading away from levels of around 70 seen in early 2020.

The global pandemic adds to risk aversion, limiting gains in the rouble.

President Vladimir Putin ordered a large-scale voluntary vaccination programme to begin next week across Russia, saying teachers and doctors should be first to get the country's Sputnik V vaccine.

"Mass vaccinations should have a limited impact on our growth expectations, but they should ease concerns about stricter lockdowns in 4Q20 and 1Q21," Sova Capital said.

Brent crude oil, a global benchmark for Russia's main export, was up 0.1pc at $48.28 a barrel, ahead of talks between the Organization of the Petroleum Exporting Countries (OPEC) and Russia on policies for 2021 after earlier discussions produced no compromise on how to tackle weak oil demand.

Russian stock indexes were down after rallying in the past few days.

The dollar-denominated RTS index lost 0.2pc to trade at 1,333.3 points.

The rouble-based MOEX Russian index was 0.2pc lower at 3,183.0 points, having briefly touched 3,192.98, its highest since January.