Russian rouble down slightly after end of tax period

• The rouble was 0.2pc weaker against the dollar at 62.44 and down 0.1pc at 68.71 versus the euro.
• The dollar-denominated RTS index was up 0.2pc at 1,575.49 points.
• The death toll from the coronavirus in China rose sharply to 132 on Wednesday with nearly 1,500 new cases.

MOSCOW: The Russian rouble opened slightly weaker against the dollar on Wednesday after the end of the local tax-payment period by Russian exporters and ahead of the U.S. Federal Reserve rate decision due later in the day.

Investors also kept focus on Russia's OFZ auctions, due on Wednesday, and the dynamic of the global markets, which were showing signs of stability after sharp volatility caused by an outbreak of a new coronavirus in China. The Fed is expected to keep interest rates on hold.

As of 0755 GMT, the rouble was 0.2pc weaker against the dollar at 62.44 and down 0.1pc at 68.71 versus the euro. It rose 1.1pc against the dollar in the previous session after a sharp fall on Monday caused by fears over the economic impact of the coronavirus.

Brent crude oil, a global benchmark for Russia's main export, was up 0.9pc at $60.07 a barrel. Oil prices were rising for a second day amid talk that OPEC could extend oil cuts if the coronavirus hurts demand.

The death toll from the coronavirus in China rose sharply to 132 on Wednesday with nearly 1,500 new cases, and Japan said it flew citizens out of Wuhan, the epicentre of the virus. Several countries are trying to evacuate their citizens from Wuhan.

A rise in shares of Russian oil producers pushed the local stock indexes higher.

The dollar-denominated RTS index was up 0.2pc at 1,575.49 points.

The rouble-based MOEX Russian index was 0.3pc higher at 3,122.62 points.