MOSCOW, June 26 (Reuters) - The Russian rouble

strengthened on Wednesday, moving towards 87 against the dollar

with favourable month-end tax payments approaching, but in low

volume trade after U.S. sanctions halted exchange trading in the

dollar and euro earlier in June.

Sanctions on Moscow Exchange and its clearing

agent, the National Clearing Centre (NCC), have led to varying

prices and spreads as trading shifted to the over-the counter

(OTC) market on June 14, obscuring access to reliable pricing

for the Russian currency.

On the interbank market, where liquidity can be low as major

Russian banks that have been sanctioned cannot participate, the

rouble was trading 1% higher at 87.40 at 0707 GMT against

the dollar.

The average dollar-rouble mixed composite rate, calculated

by LSEG and based on data from international brokers and

counterparties, stood at 87.00.

The central bank's official dollar-rouble rate was set at

87.28 for June 26, calculated on the basis of OTC trading.

Against the yuan, the rouble firmed 0.2% to 11.88, according

to an analysis of the OTC market.

The yuan had surpassed the dollar to become the most traded

currency with the rouble in Moscow before last week's sanctions

were imposed. It accounted for a 54% share of the FX market in

May.

Traders closing foreign currency positions and various

technical difficulties concerning interbank limits when closing

OTC market FX deals saw the rouble strengthen sharply to

one-year highs in mid-June after the sanctions were imposed.

It has eased from those highs since the government softened

capital controls that have been supporting the rouble since

October.

Month-end taxes, due on June 28, usually see exporters

convert foreign currency revenues to pay local liabilities,

additionally buttressing the rouble.

Brent crude oil, a global benchmark for Russia's

main export, was up 0.5% at $85.43 a barrel.