April 26 (Reuters) - The Russian rouble was unchanged
against the U.S. dollar on Wednesday as demand for the Russian
currency edged up with companies selling forex earnings to meet
end-of-month tax liabilities.
At 0750 GMT, the rouble held at 81.56 against
the greenback, but had dipped 0.5% against the euro to 89.93 . Some Russian companies converting roubles to
make Eurobond repayments were likely acting as a counter-weight,
holding back the Russian currency's ability to rise further,
analysts at state-owned Sberbank CIB said.
The rouble was also flat against the Chinese yuan at 11.76 .
Analysts say relatively high oil prices could boost the
rouble at the end of a torrid month that saw the Russian
currency slide to its lowest level in almost a year.
Russian exporters typically convert their foreign currency
earnings to pay domestic tax bills in the final days of the
month.
Global benchmark Brent crude was unchanged Wednesday
at $80.77 a barrel.
The Russian stock market appeared unfazed by the fresh bout
of banking-led volatility that hit the United States on Tuesday.
The dollar-denominated RTS index was flat at 1,014.1
points, as was the rouble-based MOEX Russian index at
2,626.6 points.
Russian policymakers, including central bank chief Elvira
Nabiullina, have repeatedly said the country's economy and
markets are largely shielded from such global turmoil due to
Western sanctions and the structure of its banking sector.
The market is also eyeing Friday's interest rate decision
from the central bank. Analysts polled by Reuters expect a hold
at 7.5%, with the risk of inflationary pressure picking up and
limiting room for manoeuvring any monetary easing.
For Russian equities guide see For Russian treasury bonds see (Reporting by Jake Cordell; Editing by Dhanya Ann Thoppil)
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