MOSCOW: The Russian rouble hovered near 92 against the dollar on Tuesday, settling after a few volatile sessions that were prompted by events including Friday’s interest rate hold and the death in prison of opposition politician Alexei Navalny.
The rouble had dropped to mid-January lows at 93 to the dollar moments after Navalny’s death was announced on Friday.
The Russian currency had also eased after the central bank held interest rates at 16% after months of tightening and issued a neutral signal on future policy.
At 0732 GMT on Tuesday, the rouble was 0.1% stronger against the dollar at 92.28 and had gained 0.1% to trade at 99.38 versus the euro.
It had shed 0.1% against the yuan to 12.79.
The rouble was steady, but has been unable to take advantage of support from high oil prices and the growing supply of foreign currency in the market, Banki.ru chief analyst Bogdan Zvarich said.
Month-end tax payments usually see exporters convert foreign currency revenues to meet local liabilities.
Russian rouble steady following rate hold, Navalny death
Brent crude oil, a global benchmark for Russia’s main export, was down 0.1% at $83.52 a barrel, but close to its highest in three weeks. Russian stock indexes were lower.
The dollar-denominated RTS index was down 0.2% to 1,103.3 points.
The rouble-based MOEX Russian index was 0.4% lower at 3,231.1 points.
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