MOSCOW: The rouble firmed marginally in light trade on Monday as Russia celebrated a holiday, with mandatory foreign currency sales by exporters and high interest rates supporting the Russian currency.
At 0816 GMT, the rouble was 0.3% weaker against the dollar at 92.17, heading back towards the more than three-month high of 91.6225 hit last week.
It was steady at 98.90 versus the euro and had firmed 0.1% against the yuan to 12.64.
The rouble has strengthened from beyond 100 to the dollar since a presidential decree requiring some exporters to convert a significant portion of foreign currency revenues was announced last month.
The central bank’s higher-than-expected rate hike to 15% in late October has also helped.
Russian rouble soars to 3-month high past 92 vs dollar
Brent crude oil, a global benchmark for Russia’s main export, was up 1.2% at $85.90 a barrel. Russian stock indexes were higher.
The dollar-denominated RTS index was up 0.5% to 1,099.6 points.
The rouble-based MOEX Russian index was 0.3% higher at 3,216.9 points.
Comments
Comments are closed for this article.