Rouble steadies near 76 vs dollar, Russian stocks near 6-month high
Business
The rouble had gained 0.5% to trade at 80.23 versus the euro.
RUSSIA (Web Desk) - The rouble hovered near the 76 mark against the dollar on Thursday as the market reopened after a holiday, while Russian stocks climbed to a near six-month high in early trade.
At 0738 GMT, the rouble was 0.1% stronger against the dollar at 75.98.
The dollar was firmer globally following Federal Reserve Chairman Jerome Powell’s hawkish guidance on further interest rate increases.
The rouble had gained 0.5% to trade at 80.23 versus the euro.
It had shed 0.1% against the yuan to 10.88.
The finance ministry this week decreased its daily foreign exchange sales to 5.4 billion roubles ($71.05 million) for the upcoming month, down from 8.9 billion roubles, which should reduce support for the rouble.
Brent crude oil, a global benchmark for Russia’s main export, was down 0.1% at $82.6 a barrel.
Russian stock indexes were steady.
The dollar-denominated RTS index was unchanged at 951.5 points.
The rouble-based MOEX Russian index was flat at 2,294.6 points, earlier touching 2,302.10 points, its strongest since Sept. 20, 2022.
Shares in dominant lender Sberbank were 0.2% lower, after the bank reported a 78.3% drop in 2022 net profit after sweeping Western sanctions rattled Russia’s financial sector.
