AGL 38.00 No Change ▼ 0.00 (0%)
AIRLINK 213.91 Increased By ▲ 3.53 (1.68%)
BOP 9.42 Decreased By ▼ -0.06 (-0.63%)
CNERGY 6.29 Decreased By ▼ -0.19 (-2.93%)
DCL 8.77 Decreased By ▼ -0.19 (-2.12%)
DFML 42.21 Increased By ▲ 3.84 (10.01%)
DGKC 94.12 Decreased By ▼ -2.80 (-2.89%)
FCCL 35.19 Decreased By ▼ -1.21 (-3.32%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 16.39 Increased By ▲ 1.44 (9.63%)
HUBC 126.90 Decreased By ▼ -3.79 (-2.9%)
HUMNL 13.37 Increased By ▲ 0.08 (0.6%)
KEL 5.31 Decreased By ▼ -0.19 (-3.45%)
KOSM 6.94 Increased By ▲ 0.01 (0.14%)
MLCF 42.98 Decreased By ▼ -1.80 (-4.02%)
NBP 58.85 Decreased By ▼ -0.22 (-0.37%)
OGDC 219.42 Decreased By ▼ -10.71 (-4.65%)
PAEL 39.16 Decreased By ▼ -0.13 (-0.33%)
PIBTL 8.18 Decreased By ▼ -0.13 (-1.56%)
PPL 191.66 Decreased By ▼ -8.69 (-4.34%)
PRL 37.92 Decreased By ▼ -0.96 (-2.47%)
PTC 26.34 Decreased By ▼ -0.54 (-2.01%)
SEARL 104.00 Increased By ▲ 0.37 (0.36%)
TELE 8.39 Decreased By ▼ -0.06 (-0.71%)
TOMCL 34.75 Decreased By ▼ -0.50 (-1.42%)
TPLP 12.88 Decreased By ▼ -0.64 (-4.73%)
TREET 25.34 Increased By ▲ 0.33 (1.32%)
TRG 70.45 Increased By ▲ 6.33 (9.87%)
UNITY 33.39 Decreased By ▼ -1.13 (-3.27%)
WTL 1.72 Decreased By ▼ -0.06 (-3.37%)
BR100 11,881 Decreased By -216 (-1.79%)
BR30 36,807 Decreased By -908.3 (-2.41%)
KSE100 110,423 Decreased By -1991.5 (-1.77%)
KSE30 34,778 Decreased By -730.1 (-2.06%)

MOSCOW: The Russian rouble weakened slightly on Friday, under pressure from buying of forex for state reserves in a market subdued by Easter holidays in many countries, but local tax payments offered some support.

At 0825 GMT, the rouble was 0.07 percent weaker against the dollar at 63.93 and had lost 0.13 percent to trade at 71.91 versus the euro.

"U.S. and European markets will be shut today, so trading will likely be overall inactive," analysts at VTB Capital said in a note.

Forex purchases for state reserves can weigh on the rouble more than normal in such conditions. The Russian finance ministry buys 11.6 billion roubles ($181.35 million) worth of foreign currency per day.

However, the amount is currently higher as the central bank from Feb. 1 also started carrying out FX purchases it had postponed in 2018 due to rouble volatility.

Higher oil prices continued to underpin the rouble, limiting the move lower. Brent crude oil, a global benchmark for Russia's main export, was up 0.54 percent at $72.01 a barrel.

Local tax payments also supported the Russian currency. The payments, which run until the end of the month, prompt export-focused companies to convert foreign currency to meet local liabilities.

A report on Moscow's role in the 2016 U.S. elections that said there was not enough evidence to establish that Trump's campaign engaged in a criminal conspiracy with Moscow was also broadly positive for Russian assets.

Russian stock indexes were higher with the dollar-denominated RTS up 0.10 percent to 1,263.60 points and the rouble-based MOEX 0.15 percent higher at 2.564.65 points.

Copyright Reuters, 2019

Comments

Comments are closed.