Russian rouble firms to 92 vs dollar with month-end taxes due

The Russian rouble strengthened to 92 against the dollar on Thursday, supported by a month-end tax period that usually sees exporters convert foreign currency revenues to pay local liabilities.

The Russian rouble strengthened to 92 against the dollar on Thursday, supported by a month-end tax period that usually sees exporters convert foreign currency revenues to pay local liabilities. At 0737 GMT, the rouble was 0.3% stronger against the dollar at 92.02 and had gained 0.4% to trade at 99.51 versus the euro. It had shed 0.1% against the yuan to 12.67.

"Today, exporters have to pay 2 trillion roubles ($21.73 billion) in taxes, and foreign currency sales on their part may remain elevated, although they are likely to decline compared to yesterday," said analysts from Sber CIB. Brent crude oil, a global benchmark for Russia's main export, was up 0.3% at $86.38 a barrel.

Russian stock indexes were higher. The dollar-denominated RTS index was up 0.3% to 1,133.3 points. The rouble-based MOEX Russian index was 0.2% higher at 3,310.4 points.

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