Russian rouble firms vs dollar, euro amid tax support By Reuters
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© Reuters. FILE PHOTO: A view shows U.S. one-dollar and Russian 100-rouble banknotes in this illustration picture taken August 14, 2023. REUTERS/Shamil Zhumatov/Illustration/File Photo
MOSCOW (Reuters) – The Russian rouble firmed against the U.S. dollar and euro on Thursday, receiving support from month-end corporate taxes.
At 0743 GMT, the rouble was 0.9% stronger against the dollar at 90.46.
It had gained 0.5% to trade at 100,70 versus the euro and also firmed 0.5% against the yuan to 12,67.
“The rouble continues to strengthen for the fourth day in a row. Thus, we can say that the measures taken by the authorities to curb the rouble’s decline are clearly working,” said Alor Broker’s Alexei Antonov.
Since October and the rouble’s most recent slide to 100 against the dollar, a presidential decree forcing exporters to convert some foreign currency revenue has provided support, as have elevated interest rates.
, a global benchmark for Russia’s main export, rose 0.05% to $79.69 a barrel.
Russian stock indexes were mixed.
The dollar-denominated RTS index was up 0.59% at 1,075.02. The rouble-based MOEX Russian index was 0.34% lower at 3,086.94.
For Russian equities guide see
For Russian treasury bonds see
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© Reuters. FILE PHOTO: A view shows U.S. one-dollar and Russian 100-rouble banknotes in this illustration picture taken August 14, 2023. REUTERS/Shamil Zhumatov/Illustration/File Photo
MOSCOW (Reuters) – The Russian rouble firmed against the U.S. dollar and euro on Thursday, receiving support from month-end corporate taxes.
At 0743 GMT, the rouble was 0.9% stronger against the dollar at 90.46.
It had gained 0.5% to trade at 100,70 versus the euro and also firmed 0.5% against the yuan to 12,67.
“The rouble continues to strengthen for the fourth day in a row. Thus, we can say that the measures taken by the authorities to curb the rouble’s decline are clearly working,” said Alor Broker’s Alexei Antonov.
Since October and the rouble’s most recent slide to 100 against the dollar, a presidential decree forcing exporters to convert some foreign currency revenue has provided support, as have elevated interest rates.
, a global benchmark for Russia’s main export, rose 0.05% to $79.69 a barrel.
Russian stock indexes were mixed.
The dollar-denominated RTS index was up 0.59% at 1,075.02. The rouble-based MOEX Russian index was 0.34% lower at 3,086.94.
For Russian equities guide see
For Russian treasury bonds see
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