Russian rouble firms vs dollar, euro amid tax support

MOSCOW (Reuters) – The Russian rouble firmed against the U.S. dollar and euro on Thursday, receiving support from month-end corporate taxes.

At 0743 GMT, the rouble was 0.9% stronger against the dollar at 90.46.

It had gained 0.5% to trade at 100,70 versus the euro and also firmed 0.5% against the yuan to 12,67.

“The rouble continues to strengthen for the fourth day in a row. Thus, we can say that the measures taken by the authorities to curb the rouble’s decline are clearly working,” said Alor Broker’s Alexei Antonov.

Since October and the rouble’s most recent slide to 100 against the dollar, a presidential decree forcing exporters to convert some foreign currency revenue has provided support, as have elevated interest rates.

, a global benchmark for Russia’s main export, rose 0.05% to $79.69 a barrel.

Russian stock indexes were mixed.

The dollar-denominated RTS index was up 0.59% at 1,075.02. The rouble-based MOEX Russian index was 0.34% lower at 3,086.94.

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