MOSCOW: The Russian rouble firmed on Tuesday as oil prices inched higher, the currency shrugged off political risks linked to neighbouring Belarus and selling inspired by the dividend season eased.

At 0750 GMT, the rouble was 0.4pc stronger against the dollar at 73.18, moving away from a three-month low of 74.68 hit last week. Versus the euro, the rouble gained 0.4pc to 85.92.

The rouble is regaining ground after a steep slide in July when investors in Russian stocks converted their rouble-denominated dividends into other currencies.

In the second half of July, international market players bought the equivalent of 128 billion roubles ($1.75 billion) in hard currency for converting dividend payments, exceeding state forex sales of 126 billion roubles between July 8 and Aug. 9, VTB Capital said, citing central bank data.

Belarus remained in focus even though the protests there have so far had little impact on the Russian market.

At least one person died as Belarusian police clashed with protesters on Monday after the opposition accused President Alexander Lukashenko of rigging his re-election victory.

Brent crude oil, a global benchmark for Russia's main export, was up 0.4pc at $45.37 a barrel, underpinned by expectations of US stimulus and a rebound in Asian demand as economies reopen. This supported Russian stock indexes.

The dollar-denominated RTS index was up 1.4pc to 1,286.2 points.

The rouble-based MOEX Russian index was 0.9pc higher at 2,987.3 points.

Promsvyazbank said an improvement in the external background will allow the MOEX index to return closer to the upper boundary of the 2,950-3,000 range on Tuesday.