MOSCOW: The Russian rouble steadied near the 73 mark versus the dollar on Monday, the first session since the central bank raised its key interest rate to 6.75% on Friday, and with investors looking ahead to a week of U.S. data releases.
At 0709 GMT, the rouble was steady against the dollar at 73.15 and had gained 0.4% to trade at 86.15 versus the euro.
The central bank opted for a more cautious step than some had anticipated on Friday, but said that more rate increases were possible and the key rate could even exceed 7% as inflation remains stubbornly high.
Those signals from Central Bank Governor Elvira Nabiullina are moderately positive for the rouble, Alor Broker analysts said in a note, but a higher key rate would hamper economic growth and the stock market.
A busy week of data releases from the United States in the lead-up to the Federal Reserve's Sept. 21-22 meeting, starting with consumer prices on Tuesday, could support the dollar and push emerging market currencies lower, said Promsvyazbank.
"Support from favourable oil market conditions, will just soften pressure on the rouble, in our view," it said in a note.
Brent crude oil, a global benchmark for Russia's main export, was up 0.6% at $73.35 a barrel, supporting Russian stock indexes.
The dollar-denominated RTS index was up 0.2% to 1,728.5 points. The rouble-based MOEX Russian index was 0.3% higher at 4,014.5 points.
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