Russian rouble edges lower, holding out for FX support

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 18 (Reuters) - The Russian rouble weakened on Tuesday, edging back towards the 82 mark against the dollar but remaining in the same range as in the last few sessions, as the market waited to see the impact of upcoming taxes and higher oil prices. At 0732 GMT, the rouble was 0.3% weaker against the dollar at 81.67 and had lost 0.5% to trade at 89.55 versus the euro . It had shed 0.3% against the yuan to 11.85 . The rouble is set to gain support from month-end tax payments that usually lead exporters to convert foreign currency revenues to meet local liabilities. Taxes are due on April 28. The Russian currency should also get a delayed boost from this month's higher oil prices, which translate to higher export revenues. Brent crude oil , a global benchmark for Russia's main export, was up 0.4% at $85.1 a barrel.


Russian stock indexes were mixed. The dollar-denominated RTS index was down 0.2% to 1,002.4 points. The rouble-based MOEX Russian index was 0.1% higher at 2,598.3 points, a more than one-year high.
For Russian equities guide see For Russian treasury bonds see (Reporting by Alexander Marrow; editing by Barbara Lewis)

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