Rouble rises in early Moscow trade

By Esraa Ibrahim On Aug 30, 2022

PHOTO: A Russian rouble banknote is seen in front of a descending and rising stock graph in this illustration taken March 1, 2022. REUTERS/Dado Ruvic

The rouble rose 60 against the dollar and euro in early Moscow trade on Tuesday. Moreover, higher oil prices helped push Russia’s benchmark stock index to its highest point in two months.

The rouble was 0.3 percent stronger against the dollar at 60.25 At 0716 GMT and had rose 0.5 percent to trade at 60.15 versus the euro.

“The rouble will try to continue its ascent today. After passing the peak of tax payments, the main support for it at the moment is the improving situation in the energy market.” Banki.ru chief analyst Bogdan Zvarich stated.

The rouble-based MOEX Russian index (. IMOEX) increased 0.3 percent at 2,303.9 points, its strongest level since June 30.

The dollar-denominated RTS index (.IRTS) increased 0.6 percent at 1,205.1 points.