MOSCOW: The Russian rouble firmed on Thursday, recovering some of the previous session’s losses in light holiday trade, helped by higher oil prices.
At 0734 GMT, the rouble was 0.5% stronger against the dollar at 91.53.
In early trade it had dipped to its weakest point since Dec. 25 of 92.4850.
It had gained 0.2% to trade at 100.03 versus the euro.
It had firmed 0.3% against the yuan to 12.72 . Brent crude oil, a global benchmark for Russia’s main export, was up 0.7% at $78.79 a barrel.
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 supported the Russian currency, as have elevated interest rates, which were hiked to 16% last month.
Russian rouble weakens in light holiday trade
The central bank said in late December it would sell 11.8 billion roubles ($128.92 million) of foreign currency a day in addition to monthly operations it carries out on the finance ministry’s behalf, another measure buttressing the Russian currency.
Russian stock indexes were higher.
The dollar-denominated RTS index was up 0.7% to 1,080.2 points.
The rouble-based MOEX Russian index was 0.3% higher at 3,138.8 points.
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