Rouble steadies near 76 vs dollar, Russian stocks near 6-month high

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 9 (Reuters) - The rouble hovered near the 76 mark against the dollar on Thursday as the market reopened after a holiday, while Russian stocks climbed to a near six-month high in early trade.


At 0738 GMT, the rouble was 0.1% stronger against the dollar at 75.98 . The dollar was firmer globally following Federal Reserve Chairman Jerome Powell's hawkish guidance on further interest rate increases. The rouble had gained 0.5% to trade at 80.23 versus the euro . It had shed 0.1% against the yuan to 10.88 . The finance ministry this week decreased its daily foreign exchange sales to 5.4 billion roubles ($71.05 million) for the upcoming month, down from 8.9 billion roubles, which should reduce support for the rouble.


Brent crude oil , a global benchmark for Russia's main export, was down 0.1% at $82.6 a barrel.


Russian stock indexes were steady. The dollar-denominated RTS index was unchanged at 951.5 points. The rouble-based MOEX Russian index was flat at 2,294.6 points, earlier touching 2,302.10 points, its strongest since Sept. 20, 2022.


Shares in dominant lender Sberbank were 0.2% lower, after the bank reported a 78.3% drop in 2022 net profit after sweeping Western sanctions rattled Russia's financial sector. For Russian equities guide see For Russian treasury bonds see ($1 = 76.0000 roubles) (Reporting by Alexander Marrow; editing by Robert Birsel)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.