MOSCOW: The Russian rouble weakened along with its emerging-market peers on Thursday, but losses in the Russian currency were limited by month-end tax payments.
At 0745 GMT, the rouble was 0.1 percent weaker against the dollar at 61.38 and shed 0.4 percent of its value to trade at 71.96 versus the euro.
Volatility in the rouble increased this week as emerging-market currencies came under pressure globally, while uncertainty over developments in relations between Russia and the West remained in place.
Losses in the rouble, however, are capped by month-end tax payments that usually prompt export-focused companies to convert dollar revenues to meet local liabilities.
Oil prices also supported Russian assets, hovering far above levels factored into the oil-dependent budget for this year.
Brent crude oil, a global benchmark for Russia’s main export, traded at $79.45 per barrel, near its highest level since 2014, the $80.49 it hit earlier this week.
Stocks indexes inched higher amid strong oil prices. The dollar-denominated RTS index rose 0.6 percent to 1,181.2 points, while the rouble-based MOEX was 0.3 percent higher at 2,302.1 points.
Source: Brecorder
