Russian rouble eases towards 90 vs US dollar

It had shed 0.3% against the yuan to 12.48. Month-end tax payments, which require exporters to convert foreign currency revenues into roubles and usually buttress the Russian currency late in each month, were due on Monday.

The Russian rouble edged lower towards the 90 mark against the dollar ahead of two OFZ treasury bond auctions by the finance ministry on Wednesday, weakening after the passing of a favourable month-end tax period. At 0728 GMT, the rouble was 0.2% weaker against the dollar at 89.89 and had gained 0.2% to trade at 97.33 versus the euro. It had shed 0.3% against the yuan to 12.48.

Month-end tax payments, which require exporters to convert foreign currency revenues into roubles and usually buttress the Russian currency late in each month, were due on Monday. The rouble does still have strong support from state FX sales at the equivalent of 16.7 billion roubles ($185.8 million) a day.

The currency could also gain a boost should capital controls requiring exporters to convert foreign currency revenue be extended beyond April 30. Market players are on the lookout for news after the government's proposal for an extension was swiftly opposed by the central bank last week. Brent crude oil, a global benchmark for Russia's main export, was down 0.6% at $82.36 a barrel.

Russian stock indexes were mixed. The dollar-denominated RTS index was unchanged at 1,122.6 points. The rouble-based MOEX Russian index was 0.2% higher at 3,202.6 points.

For Russian equities guide see For Russian treasury bonds see

($1 = 89.8850 roubles)