Russian rouble slightly down ahead of state FX sales plan
- At 0815 GMT, the rouble was 0.2pc weaker against the dollar at 78.38, having hit 79.9750 last week - the weakest level since March.
MOSCOW: The Russian rouble eased slightly on Monday, although higher oil prices, expectations for increased state foreign currency sales in the month ahead and positive updates on the health of US President Donald Trump capped losses
At 0815 GMT, the rouble was 0.2pc weaker against the dollar at 78.38, having hit 79.9750 last week - the weakest level since March.
Against the euro, the rouble fell 0.4pc to 92.02, but was far from levels of around 70 seen in early 2020.
The finance ministry will announce at 0900 GMT the amount of FX it plans to sell via the central bank in the month ahead in an attempt to ease pressure on the rouble.
The rouble was recently battered by geopolitical risks related to the turmoil in neighbouring Belarus, the suspected poisoning of Kremlin critic Alexei Navalny and military conflict in the South Caucasus.
Last week, the rouble and other risky assets took a hit from the news that US President Donald Trump had tested positive for COVID-19 a month away from an election.
"Donald Trump's health will be the key factor in determining market direction in the near future," ITI Capital said.
The number of new coronavirus cases is on the rise in Russia and Moscow authorities are considering imposing stricter restrictions to curb the spread of the virus, Vedomosti daily reported.
Brent crude oil, a global benchmark for Russia's main export, was up 2.4pc at $40.20 a barrel.
Russian stock indexes were also higher.
The dollar-denominated RTS index rose 0.05pc to 1,148.6 points.
The rouble-based MOEX Russian index was 0.2pc higher at 2,856.8 points.