MOSCOW, March 23 (Reuters) - The rouble strengthened
against the globally weaker dollar on Thursday after the U.S.
Federal Reserve sounded close to calling time on interest rate
rises, while weaker oil prices held the Russian currency back
from gaining against the euro and yuan.
At 0724 GMT, the rouble was 0.7% stronger against the dollar
at 76.55 .
In a widely expected move, the Fed raised interest rates by
25 basis points but recast its outlook to a more cautious stance
as a result of recent turmoil in financial markets spurred by
the collapse of two U.S. banks.
The rouble lost 0.4% to trade at 83.52 versus the euro , earlier touching a more than 11-month low of
83.8850. It shed 0.2% against the yuan to 11.21 .
The rouble should start gaining support from month-end tax
payments, when Russian exporters' demand for roubles tends to
increase as they convert foreign currency revenue to pay local
liabilities.
Brent crude oil , a global benchmark for Russia's
main export, was down 0.7% at $76.2 a barrel.
Brent's move lower after the Fed announcement indicated
there were recession risks globally, said Sinara Investment
Bank.
"However, the Russian (equity) market remains to a large
degree isolated from 'overseas risks' and may consolidate until
new triggers emerge," Sinara said.
Russian stock indexes were mixed.
The rouble-based MOEX Russian index was 0.1% lower
at 2,390.6 points, though not far from Tuesday's six-month high
of 2,431.23 points, sparked by Sberbank's recommendation of a
record dividend payout last week and consolidated by Chinese
President Xi Jinping's Moscow visit.
The dollar-denominated RTS index was up 0.4% to
984.3 points.
For Russian equities guide see For Russian treasury bonds see (Reporting by Alexander Marrow; Editing by Bradley Perrett)
