By 0838 GMT the rouble was 0.3% stronger against the dollar at 80.02 and had gained 1% to trade at 87.81 versus the euro . It firmed 0.8% against the yuan to 11.50 . The rouble strengthened sharply on Friday, ending two weeks of trading in a range of 81-82 against the dollar. It reached a three-week high against the dollar, euro and yuan before paring gains after the central bank held interest rates at 7.5%. The rouble's move was "largely the result of tight rhetoric from the Bank of Russia, which has made it clear that it intends to raise the key rate," Alor Broker analyst Alexei Antonov said.
He said the rouble could reach the next resistance level of 77.50 to the dollar.
Other analysts said the rouble could weaken once more, given that the favourable impact of month-end tax payments has subsided. Those taxes, which were due on April 28, usually see exporters convert foreign currency revenues to meet local liabilities.
Brent crude oil , a global benchmark for Russia's main export, was down 0.4% at $79.01 a barrel.
Russian stock indexes were lower. The dollar-denominated RTS index was down 0.5% at 1,028.2 points. The rouble-based MOEX Russian index was down 0.9% at 2,611.5 points. For Russian equities guide see For Russian treasury bonds see (Reporting by Alexander Marrow Editing by David Goodman and Barbara Lewis)
