MOSCOW: The Russian rouble steadied on Thursday, supported by high oil prices as the market looked ahead to Friday’s central bank meeting, at which it is widely expected to hold rates at 16% for the second meeting in a row.
At 0734 GMT, the rouble was 0.2% weaker against the dollar at 92.39 and had lost 0.7% to trade at 101.00 versus the euro.
It had shed 0.1% against the yuan to 12.81.
President Vladimir Putin secured a landslide election victory last week, extending his rule by a further six years.
His win was condemned as unfair and undemocratic by Western governments, but he was congratulated by China, India, North Korea and others.
The Russian market’s focus has now turned to the central bank.
Russian rouble steadies, boosted by strong oil and upcoming taxes
All 24 analysts polled by Reuters expect borrowing costs to remain unchanged on Friday, but some have said there is a slight chance of a hike.
Month-end tax payments that usually see exporters convert foreign currency revenues to meet domestic liabilities should also lend the rouble support.
Brent crude oil, a global benchmark for Russia’s main export, was up 0.5% at $86.41 a barrel.
It reached its strongest point since early November earlier this week.
Russian stock indexes were higher.
The dollar-denominated RTS index was up 0.8% to 1,122.8 points.
The rouble-based MOEX Russian index was 0.8% higher at 3,293.3 points.
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