MOSCOW: The Russian rouble opened steady on Monday, supported by marginally higher oil prices but hampered by rising coronavirus cases at home and abroad which threaten more restrictions that might harm risk assets.

At 0722 GMT, the rouble was 0.1pc stronger against the dollar at 77.85 and had also gained 0.1pc to 91.17 versus the euro.

"Optimism is fading as round two of COVID ramps up and the consequent shuttering of economies begins," said BCS Global Markets in a note.

Cases showed a record one-day increase of more than 400,000 late last week with much of Europe bringing in new restrictions. But in Moscow, the mayor said there were signs authorities were getting the outbreak under control, despite more than 3,000 new infections each day since early October.

The external background was neutral, said Andrei Kochetkov of Otkritie Brokerage, adding that the rouble, which has been moving steadily away from a six-month low hit in late September, could continue its recovery against the backdrop of weakening geopolitical risks.

The European Union and Britain last week imposed sanctions against some top Russian officials over the poisoning of Kremlin critic Alexei Navalny.

A political crisis in neighbouring Belarus and military conflict in the South Caucasus are ongoing.

Brent crude oil, a global benchmark for Russia's main export, was up 0.4pc at $43.11 a barrel.

Russian stock indexes were marginally higher, pulling away from month-long lows hit on Friday.

The dollar-denominated RTS index was up 0.1pc to 1,134.4 points.

The rouble-based MOEX Russian index was 0.1pc higher at 2,803.1.