*
This content was produced in Russia where the law
restricts
coverage of Russian military operations in Ukraine
(Updates prices, adds Aeroflot, Sberbank details)
By Alexander Marrow
MOSCOW, March 31 (Reuters) - The Russian rouble slumped
to a more than 11-month low against the dollar and euro on
Friday, buffeted by geopolitical headwinds over the conflict in
Ukraine and struggling to benefit from higher oil prices.
By 1516 GMT, the rouble was 0.6% weaker against the dollar
at 77.54 , earlier falling to 77.9500, its weakest
since April 20, 2022.
The rouble also hit over 11-month lows against the euro a yuan. It was last down 0.1% to trade at 84.47 versus the euro and down 0.7% against the yuan to 11.28 .
The Russian currency has now lost the support of month-end tax payments that usually see exporters convert foreign exchange revenues into roubles.
The rouble has been on a steadily weakening trend throughout March and the first quarter, under external pressure since a Western price cap on Russia's oil sales came into force in early December alongside a European Union embargo on buying sea-borne Russian oil.
The risk of lower export earnings as a result, the cost of reorienting raw material supplies east and the recent plunge in oil prices to a more than one-year low have all impacted the rouble rate.
Brent crude oil , a global benchmark for Russia's main export, was up 0.5% at $79.7 a barrel, moving clear of mid-march lows.
Russian stock indexes were lower.
The dollar-denominated RTS index was down 1.5% to 991.8 points. The rouble-based MOEX Russian index was 1% lower at 2,441.2 points. Shares in Russian flag carrier Aeroflot slumped around 5% after the company's board recommended not paying dividends on its 2022 results.
Russia's dominant lender Sberbank on Friday said it had cancelled commission fees for citizens called up for military service.
Banks already offer other benefits to soldiers, including
loan payment holidays. Austria's Raiffeisen Bank International
(RBI) has been sharply rebuked by investors for
participating in that scheme.
For Russian equities guide see For Russian treasury bonds see (Reporting by Alexander Marrow Editing by Christopher Cushing
and Mark Potter)
