MOSCOW: The Russian rouble has been broadly steady against the US dollar and euro on Tuesday in thin trading, with the European and US markets closed for Christmas.
At 0932 GMT, the rouble edged up 0.08% against the dollar at 91.68 and was steady at 101 versus the euro.
Brent crude oil, a global benchmark for Russia’s main export, was also flat, at $79.02 as investors focused on conflict in the Middle East and optimism the US Federal Reserve would soon start cutting interest rates, lifting global economic growth and fuel demand.
Russian rouble steady in thin trading
“The rouble is gradually strengthening… It looks like the demand for foreign currency is insignificant, while the exporters are selling quite a big chunk of revenues before the tax payments,” a Sberbank analyst wrote in a note.
Since October and the rouble’s most recent slide to 100 against the dollar, a presidential decree forcing exporters to convert some foreign currency revenue has provided support, as have elevated interest rates. Russian stock indexes declined.
The dollar-denominated RTS index was down 0.29% at 1,060.55.
The rouble-based MOEX Russian index slid by 0.42% to 3,086.30.
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