ANL 34.12 Increased By ▲ 0.02 (0.06%)
ASC 14.80 Increased By ▲ 0.40 (2.78%)
ASL 24.32 Decreased By ▼ -1.18 (-4.63%)
AVN 91.22 Increased By ▲ 4.67 (5.4%)
BOP 7.79 Increased By ▲ 0.08 (1.04%)
BYCO 10.21 Decreased By ▼ -0.02 (-0.2%)
DGKC 121.50 Decreased By ▼ -0.50 (-0.41%)
EPCL 55.15 Decreased By ▼ -1.45 (-2.56%)
FCCL 24.24 Increased By ▲ 0.49 (2.06%)
FFBL 28.10 Increased By ▲ 0.15 (0.54%)
FFL 16.16 Increased By ▲ 1.01 (6.67%)
HASCOL 9.50 Increased By ▲ 0.14 (1.5%)
HUBC 77.70 Decreased By ▼ -0.17 (-0.22%)
HUMNL 6.47 Increased By ▲ 0.17 (2.7%)
JSCL 20.40 Increased By ▲ 0.55 (2.77%)
KAPCO 40.00 Increased By ▲ 0.55 (1.39%)
KEL 3.82 Increased By ▲ 0.04 (1.06%)
LOTCHEM 15.90 Decreased By ▼ -0.05 (-0.31%)
MLCF 46.15 Decreased By ▼ -0.25 (-0.54%)
PAEL 35.90 Increased By ▲ 1.25 (3.61%)
PIBTL 10.15 Decreased By ▼ -0.04 (-0.39%)
POWER 9.14 Increased By ▲ 0.01 (0.11%)
PPL 85.20 Increased By ▲ 0.20 (0.24%)
PRL 24.30 Increased By ▲ 0.25 (1.04%)
PTC 9.50 Decreased By ▼ -0.11 (-1.14%)
SILK 1.45 Increased By ▲ 0.05 (3.57%)
SNGP 41.40 Increased By ▲ 0.17 (0.41%)
TRG 165.01 Increased By ▲ 11.91 (7.78%)
UNITY 32.65 Increased By ▲ 2.00 (6.53%)
WTL 1.73 Increased By ▲ 0.04 (2.37%)
BR100 4,872 Increased By ▲ 49.63 (1.03%)
BR30 25,586 Increased By ▲ 447.01 (1.78%)
KSE100 45,400 Increased By ▲ 486.21 (1.08%)
KSE30 18,533 Increased By ▲ 170 (0.93%)

Coronavirus
VERY HIGH
Pakistan Deaths
16,453
13724hr
Pakistan Cases
766,882
544524hr
Sindh
273,466
Punjab
273,566
Balochistan
21,000
Islamabad
70,609
KPK
107,309
Markets

Russian rouble edges up on higher oil prices, tax payments

The rouble had reacted strongly to a surge in oil prices earlier this month in the wake of an attack on Saudi crude
23 Sep 2019
  • The rouble had reacted strongly to a surge in oil prices earlier this month in the wake of an attack on Saudi crude oil facilities.
  • The rouble was 0.2pc stronger against the dollar at 63.89 and had gained by 0.3pc to trade at 70.31 versus the euro.

MOSCOW: The Russian rouble edged higher against the US dollar on Monday, supported by higher oil prices and as month-end tax payments prompted companies to convert their foreign currency holdings to meet local duties.

At 0713 GMT, the rouble was 0.2pc stronger against the dollar at 63.89 and had gained by 0.3pc to trade at 70.31 versus the euro.

"The Russian market appears stronger than other emerging markets on the backdrop of an increase in oil prices and ahead of tax payments of 1.1 to 1.4 trillion roubles," ING said in a note.

The rouble had reacted strongly to a surge in oil prices earlier this month in the wake of an attack on Saudi crude oil facilities, reaching its highest since July of 63.58 versus the dollar a week ago.

Oil prices rose more than 1pc on Monday on doubts over how fast Saudi Arabia can fully restore its crude output after the attack.

Brent crude oil, a global benchmark for Russia's main export, was up 0.8pc at $64.80 barrel at 0651 GMT.

Russian stock indexes were down.

The dollar-denominated RTS index was down 0.3pc to 1,373 points, while the rouble-based MOEX Russian index was 0.3pc lower at 2,787 points.