MOSCOW: The Russian rouble firmed on Friday, moving towards the 91 mark against the dollar in thin holiday trade, supported by relatively high oil prices.
Market activity is limited as Russia has public holidays until Jan. 9.
At 0744 GMT, the rouble was 0.1% stronger against the dollar at 91.21 and had gained 0.3% to trade at 99.65 versus the euro. It had firmed 0.2% against the yuan to 12.65.
Brent crude oil, a global benchmark for Russia’s main export, was up 0.4% at $77.86 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 ($129.43 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 0.2% to 1,083.8 points.
The rouble-based MOEX Russian index was 0.1% higher at 3,138.8 points.
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