MOSCOW, Dec 24 (Reuters) - Russia's rouble strengthened

further against the U.S. dollar to trade on the stronger side of

the 100 mark it weakened through in late November on the back of

U.S. financial sanctions.

The rouble was up 1.4% at 99.80 against the dollar by

0800 GMT, over-the-counter market data showed. The rouble

strengthened 1.3% to 13.66 against China's yuan in trading on

the Moscow Stock Exchange.

Analysts said the Russian currency was supported by upcoming

corporate tax payments, ahead of which companies convert their

foreign currency earnings into roubles. They said dealers might

hoard foreign currency ahead of a long New Year break.

"During the last sessions of the year, demand for foreign

currency may increase due to the hedging of rouble positions

over the New Year holidays, which will put pressure on the

Russian currency," Alor brokerage analysts said.

The rouble fell as much as 15% against the dollar in

November after U.S. sanctions hit Russia's third-largest lender,

Gazprombank. Much of the lost ground has been regained since

then.

One-day rouble/dollar futures, which trade on the Moscow

Stock Exchange and are a guide for the over-the-counter exchange

rate, were down 0.7% at 102.49. The Russian central bank set an

official exchange rate at 101.61 to the dollar.