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Russian rouble steadies, boosted by strong oil and upcoming taxes
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Russian rouble steadies, boosted by strong oil and upcoming taxes
Mar 20, 2024 1:15 AM

MOSCOW, March 20 (Reuters) - The rouble hovered near

92.5 to the dollar on Wednesday, steadying after a few volatile

sessions around Russia's presidential election and buttressed by

strong oil prices and the promise of upcoming month-end tax

payments.

At 0745 GMT, the rouble was 0.1% stronger against the dollar

at 92.60 and had lost 0.1% to trade at 100.72

versus the euro. It had firmed 0.1% against the

yuan to 12.82.

President Vladimir Putin secured a landslide election

victory last week, extending his rule by a further six years.

His win was condemned as unfair and undemocratic by Western

governments, but he was congratulated by China, India, North

Korea and others.

The Russian market is also looking ahead to a central bank

rate decision on Friday, with all 24 analysts polled by Reuters

expecting a hold at 16%.

Brent crude oil, a global benchmark for Russia's

main export, was down 0.4% at $87.02 a barrel. It reached its

strongest level since early November in the previous session.

Month-end tax payments that usually see exporters convert

foreign currency revenues to meet local liabilities should also

lend the rouble support.

Russian stock indexes were higher.

The dollar-denominated RTS index was up 0.3% to

1,114.4 points. The rouble-based MOEX Russian index was

0.3% higher at 3,275.6 points.

For Russian equities guide see

For Russian treasury bonds see

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