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Markets

Russian rouble slips as oil stays below $60/bbl, end of local tax payments

The Russian rouble opened weaker on Tuesday, hurt by oil prices which were trading below $60 per barrel and as loca
01 Oct 2019
  • The Russian rouble opened weaker on Tuesday, hurt by oil prices which were trading below $60 per barrel and as local support from tax payments has ended.
  • Russian stock indexes were up.

MOSCOW: The Russian rouble opened weaker on Tuesday, hurt by oil prices which were trading below $60 per barrel and as local support from tax payments has ended.

At 0728 GMT, the rouble was 0.4% weaker against the dollar at 65.13 and had lost 0.34% to trade at 70.91 versus the euro.

Brent crude oil, a global benchmark for Russia's main export, was up 0.37% at $59.46 but was trading below $60 per barrel as a resumption in Saudi supply and demand concerns continued to keep a lid on prices.

Russian stock indexes were up.

The dollar-denominated RTS index was up 0.14% to 1,335.7 points. The rouble-based MOEX Russian index was 0.49% higher at 2,760.5 points.