Russian rouble gains against the dollar as oil prices rise

The Russian rouble opened higher against a weakened dollar, boosted by rising oil prices even as it lost ground against other major currencies. It had shed 0.014% against the yuan to 10.41. In a note, Andrei Kochetkov, lead analyst at Otkrytie Research, said the rouble would likely continue to trade stably against a backdrop of rising oil prices and a weakened dollar despite ongoing geopolitical tensions.

The Russian rouble opened higher against a weakened dollar, boosted by rising oil prices even as it lost ground against other major currencies. At 0730 GMT, the rouble was 0.21% stronger against the dollar at 70.60, but had lost 0.71% to trade at 77.00 versus the euro. It had shed 0.014% against the yuan to 10.41.

In a note, Andrei Kochetkov, lead analyst at Otkrytie Research, said the rouble would likely continue to trade stably against a backdrop of rising oil prices and a weakened dollar despite ongoing geopolitical tensions. Brent crude oil, a global benchmark for Russia's main export, was up 0.6% at $83.32 a barrel.

Russian stock indexes were up. The dollar-denominated RTS index was up 0.60% to 1,008.38 points. The rouble-based MOEX Russian index was 0.44% higher at 2,239.72 points.

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