Russian rouble extends recovery from over one-month low vs dollar

The Russian rouble edged up on Friday, extending its recovery from a more than one-month low against the dollar, supported by capital controls and high interest rates, but still hampered by exporters' reduced foreign currency sales.

The Russian rouble edged up on Friday, extending its recovery from a more than one-month low against the dollar, supported by capital controls and high interest rates, but still hampered by exporters' reduced foreign currency sales. At 0740 GMT, the rouble was 0.1% stronger against the dollar at 91.98, moving farther from 93.56, its weakest point since Nov. 3, hit in the previous session.

It had gained 0.3% and traded at 99.14 versus the euro , and firmed 0.2% against the yuan to 12.83 . The rouble has now lost support from the month-end tax period, for which Russian exporters usually convert foreign currency into roubles. It weakened for five sessions running until yesterday.

Before last week, the currency had enjoyed seven weeks of gains. It has rebounded from more than 100 to the dollar, thanks to high interest rates and reduced capital outflows since Putin introduced the forced conversion of some foreign currency revenue for exporters in October. High rates have also buttressed the rouble. The central bank is widely expected to hike rates again, to 16%, at its meeting on Dec. 15.

Brent crude oil, a global benchmark for Russia's main export, was up 2.1% at $75.58 a barrel. Russian stock indexes were higher.

The dollar-denominated RTS index was up 0.7% to 1,058.4 points. The rouble-based MOEX Russian index was 0.5% higher at 3,090.4 points. For Russian equities guide see

For Russian treasury bonds see

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