MOSCOW, May 20 (Reuters) - The rouble climbed to a more
than two-month high against the dollar on Monday, supported by
the Russian state's increased foreign currency sales this month
and capital controls that prop up the Russian currency.
By 1146 GMT, the rouble was 0.4% higher at
90.55 to the dollar, earlier reaching 90.3875, its strongest
point since March 7.
Against the euro, the rouble gained 0.3% to
98.40 and gained 0.7% to 12.49 against the yuan
.
Capital controls introduced by presidential decree in
October 2023 require dozens of undisclosed exporting firms to
deposit a high percentage of foreign currency earnings with
Russian banks and then sell most of those proceeds on the
domestic market. The controls were extended by a year at the end
of April.
The state's overall forex sales were sharply increased to
6.3 billion roubles ($69.57 million) a day in May from 0.6
billion roubles a day in the previous month, further buttressing
the Russian currency.
Brent crude oil, a global benchmark for Russia's
main export, fell 0.2% to $83.79 a barrel.
Russian stock indexes were mixed. The dollar-denominated RTS
index rose 0.1% to 1,185.0. The rouble-based MOEX
Russian index fell 0.5% to 3,463.9.
($1 = 90.5550 roubles)