LONDON: The Russian rouble strengthened on Thursday, heading towards the 60 mark against the dollar, extending its recovery from July lows hit the previous day after the Kremlin ordered a partial military mobilisation.
At 0720 GMT, the rouble was 0.7% stronger against the dollar at 60.30 and had gained 1.45% to trade at 59.30 versus the euro.
It had firmed 1.4% against the yuan to 8.460.
Brent crude oil, a global benchmark for Russia’s main export, was up 0.98% at $90.73 a barrel, helping to prop up Russian stock indexes.
BCS Global Markets analyst Artem Lavrishchev said that Russia’s share market was likely to further consolidate at its current level.
The dollar-denominated RTS index was up 3.82% to 1148.040 points.
The rouble-based MOEX Russian index was 2.67% higher at 2188.24 points.