Rouble steadies vs dollar, firms away from over 11-month low against euro

The rouble had gained 0.3% to trade at 84.13 versus the euro , pulling away from 84.3975 hit on Thursday, its weakest point since April 20, 2022. The rouble has been on a steadily weakening trend throughout March and the first quarter, under external pressure since a Western price cap on Russia's oil sales came into force in early December alongside a European Union embargo on buying sea-borne Russian oil.

The Russian rouble traded steady against the dollar on Friday but pulled back from a more than 11-month low against the euro, supported by relatively higher oil prices while buffeted by geopolitical headwinds over the conflict in Ukraine. At 0807 GMT, the rouble was 0.1% weaker against the dollar at 77.18 and had shed 0.2% against the yuan to 11.22.

The Russian currency may gravitate towards moderate weakening against the dollar on Friday, said Bank St Petersburg analysts in a note. The rouble had gained 0.3% to trade at 84.13 versus the euro , pulling away from 84.3975 hit on Thursday, its weakest point since April 20, 2022.

The rouble has been on a steadily weakening trend throughout March and the first quarter, under external pressure since a Western price cap on Russia's oil sales came into force in early December alongside a European Union embargo on buying sea-borne Russian oil. The risk of lower export earnings as a result, the cost of reorienting raw material supplies east and the recent plunge in oil prices to a more than one-year low have all impacted the rouble rate.

Brent crude oil, a global benchmark for Russia's main export, was down 0.9% at $78.6 a barrel, but still well clear of mid-march lows. Russian stock indexes were lower.

The dollar-denominated RTS index was down 0.6% to 1,000.9 points. The rouble-based MOEX Russian index was 0.6% lower at 2,452.2 points. For Russian equities guide see

For Russian treasury bonds see