MOSCOW, May 28 (Reuters) - The rouble firmed to a more

than four-month high against the dollar on Tuesday buoyed by

high interest rates, state forex sales and capital controls, as

a favourable month-end tax period reached its peak.

By 0955 GMT, the rouble was 0.3% higher at

88.33 to the dollar, earlier hitting 88.2575, its strongest

since Jan. 24.

Against the euro, the rouble rose 0.1%

to 96.15 and gained 0.2% to 12.15 against the yuan

.

Month-end tax payments that usually see exporters convert

foreign currency revenue to meet local liabilities tend to

support the rouble.

The current tax period will end on Tuesday and the volume of

foreign currency supply on the market should decrease, said Bank

St Petersburg analysts.

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 Russian state has also sharply increased its foreign

currency sales this month.

High borrowing costs, with interest rates at 16% and a

hawkish central bank suggesting that monetary policy easing is

not likely soon, also supported the rouble.

Brent crude oil, a global benchmark for Russia's

main export, rose 0.2% to $83.25 a barrel.

Russian stock indexes rose. The dollar-denominated RTS index

rose 1.5% to 1,191.6. The rouble-based MOEX Russian

index gained 1.3% to 3,340.4.

($1 = 88.4200 roubles)