Against this backdrop, Russia picked three major banks to organise a Eurobond issue. The placement of euro-denominated bonds can take place this week, sources told Reuters.
"I think Russian sovereign Eurobond will be very well received," said Sergey Dergachev at UIP in Frankfurt, citing good credit quality and relatively low volatility.
Rouble gained 0.4% to 74.88 against the dollar after a three-day weekend, heading towards its strongest level since March 22 of 74.19 touched last week.
The rouble is seen returning to the 74-75 range against the dollar this week, Locko Invest said in a note.
The central bank, which had been widely expected to raise interest rates to rein in high inflation due to the rouble's weakness, hiked by a bigger than expected 50 basis points to 5%.
Against the euro, the rouble gained 0.3% to 90.37 , nearing a more than two-week high.
Rouble was 0.4% stronger against the dollar at 77.09, moving away from its weakest level since Nov. 5 of 78.0450, which it touched last week.
The rouble decoupled recently from moves in other emerging markets as well as the price of crude oil, Russia's key export, as it was hammered by fears about the situation in Ukraine.
Rouble was little changed on the day at 76.37 against the dollar after falling to 76.74 on Monday, its weakest since March 24.
"We think the rouble will likely remain near current levels until some sort of clarity emerges on the geopolitical front," Sberbank CIB said in a note.
The dollar steadied ahead of data from the United States that is expected to show an increase in job creation and a lower unemployment rate for March.
Oil prices inched higher despite the OPEC+ group's decision to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and 400,000 bpd or so in July.
The rouble was 0.7% weaker against the dollar at 76.18, a whisker away from a one-week low and heading further from the more than one-week high of 75.22 hit in the previous session.
It had lost 0.8% to trade at 89.46 versus the euro .
The rouble was 0.9% stronger against the dollar at 75.87, heading away from 76.98, its weakest since mid-November, hit on Wednesday. It gained 0.9% to trade at 89.61 versus the euro.
"The spotlight will be on the EU leaders' summit, where the EU's relationship with Russia is on the agenda," Sberbank CIB said in a note.
Russian assets have been under pressure since last week as markets prepared for a new round of US sanctions over alleged election meddling, which Moscow has denied.
The rouble gained 0.2% to 90.30 against the euro , hovering away from the 87 mark seen before the threat of new sanctions intensified.
The rouble was 0.4% weaker against the dollar at 74.39. Earlier, it slumped to 74.8250, its weakest mark since March 4.
If US sanctions this week are limited to personal restrictions and additional measures against Nord Stream 2, the rouble could well return to the 73-74/USD range after short-term volatility.
The rouble has suffered this week since US President Joe Biden said his Russian counterpart Vladimir Putin would "pay a price" for alleged meddling in the 2020 US election.
A surprise 25 basis point rate rise by the central bank and the promise of more to come briefly boosted the rouble before oil prices turned negative, adding to pressure on Russian assets.