MOSCOW: The Russian rouble edged lower in light trade on Tuesday, while the benchmark MOEX stock index rose to an almost one-month high amid higher oil prices. At 0700 GMT, the rouble was 0.14% weaker against the dollar at 74.65 and held steady to trade at 84.31 versus the euro.
Oil prices rose on Tuesday as investors embraced expectations that oil producers will add supply at a meeting on Tuesday as a sign that fuel demand remains robust despite the spread of the Omicron coronavirus variant.
The rouble has been under increased pressure since October as Western nations have expressed concerns about Russia’s military build-up near neighbouring Ukraine. US Secretary of State Antony Blinken on Monday discussed the military buildup with the Bucharest Nine group of NATO allies, the State Department said.
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