Russian rouble steadies near mid-March level vs dollar
- The rouble was down 0.1% versus the euro at 89.71.
MOSCOW: The Russian rouble held steady against a weak dollar on Monday, supported by rising oil prices, moderate risk appetite and the month-end period that usually prompts exporters to convert forex earnings into roubles to pay domestic tax liabilities.
At 0729 GMT the rouble was 0.1% up against the dollar at 73.56, not far from its strongest since early May and closer to levels in mid-March before a sell-off in the Russian currency.
The rouble was down 0.1% versus the euro at 89.71 .
"Volatility in rouble trading has fallen significantly in recent days. For now the rouble is supported by the tax period, but that will soon end," said Alexei Antonov of Alor Broker.
Brent crude oil, a global benchmark for Russia's main export, was up 1.1% at $67.20 a barrel, pushing Russian stock indexes higher.
The dollar-denominated RTS index was up 0.2% at 1,572.2 points while the rouble-based MOEX Russian index firmed by 0.3% to 3,670.6 points.
The MOEX is likely to spend Monday within a range of 3,650-3,700, Promsvyazbank said in a note.
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