AGL 38.00 Increased By ▲ 0.01 (0.03%)
AIRLINK 210.38 Decreased By ▼ -5.15 (-2.39%)
BOP 9.48 Decreased By ▼ -0.32 (-3.27%)
CNERGY 6.48 Decreased By ▼ -0.31 (-4.57%)
DCL 8.96 Decreased By ▼ -0.21 (-2.29%)
DFML 38.37 Decreased By ▼ -0.59 (-1.51%)
DGKC 96.92 Decreased By ▼ -3.33 (-3.32%)
FCCL 36.40 Decreased By ▼ -0.30 (-0.82%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.95 Increased By ▲ 0.46 (3.17%)
HUBC 130.69 Decreased By ▼ -3.44 (-2.56%)
HUMNL 13.29 Decreased By ▼ -0.34 (-2.49%)
KEL 5.50 Decreased By ▼ -0.19 (-3.34%)
KOSM 6.93 Decreased By ▼ -0.39 (-5.33%)
MLCF 44.78 Decreased By ▼ -1.09 (-2.38%)
NBP 59.07 Decreased By ▼ -2.21 (-3.61%)
OGDC 230.13 Decreased By ▼ -2.46 (-1.06%)
PAEL 39.29 Decreased By ▼ -1.44 (-3.54%)
PIBTL 8.31 Decreased By ▼ -0.27 (-3.15%)
PPL 200.35 Decreased By ▼ -2.99 (-1.47%)
PRL 38.88 Decreased By ▼ -1.93 (-4.73%)
PTC 26.88 Decreased By ▼ -1.43 (-5.05%)
SEARL 103.63 Decreased By ▼ -4.88 (-4.5%)
TELE 8.45 Decreased By ▼ -0.29 (-3.32%)
TOMCL 35.25 Decreased By ▼ -0.58 (-1.62%)
TPLP 13.52 Decreased By ▼ -0.32 (-2.31%)
TREET 25.01 Increased By ▲ 0.63 (2.58%)
TRG 64.12 Increased By ▲ 2.97 (4.86%)
UNITY 34.52 Decreased By ▼ -0.32 (-0.92%)
WTL 1.78 Increased By ▲ 0.06 (3.49%)
BR100 12,096 Decreased By -150 (-1.22%)
BR30 37,715 Decreased By -670.4 (-1.75%)
KSE100 112,415 Decreased By -1509.6 (-1.33%)
KSE30 35,508 Decreased By -535.7 (-1.49%)

MOSCOW: The Russian rouble strengthened against the US dollar on Tuesday, supported by foreign currency sales by exporting companies that convert their earnings into roubles to pay domestic taxes at the end of the month.

At 0800 GMT, the rouble was 0.5% stronger at 91.80 to the dollar, according to LSEG data.

The rouble fell as much as 9% against the dollar earlier in August after Ukraine’s surprise attack on Russia’s Kursk region, before stabilising around current levels.

“The rouble feels comfortable ahead of the main tax payment period,” said Zenit bank analyst Vladimir Evstifeev.

Trading in major currencies in Russia shifted to the over-the-counter (OTC) market, obscuring price data, after Western sanctions on the Moscow Exchange and its clearing agent, the National Clearing Centre, were introduced on June 12.

According to an analysis of the OTC market, the rouble weakened by 0.6% to 11.74 against the Chinese yuan, which has become the most traded foreign currency in Moscow.

The rouble strengthened by 1.4% against the yuan in Monday’s session.

Russian rouble mostly unchanged against US dollar

The rouble is currently benefiting from high interest rates after the central bank increased its benchmark rate to 18% in July.

One-day rouble-dollar futures, which trade on the Moscow Exchange and are a guide for OTC market rates, were down 0.2% at 90.57.

The central bank’s official exchange rate, which it calculates using OTC data, was set at 91.77 to the dollar.

The rouble was 0.2% stronger at 102.39 against the euro, according to LSEG data.

Brent crude oil, a global benchmark for Russia’s main export, was down 0.2% at $81.30 a barrel, as prices paused recent advances after a surge of more than 7% in the previous three sessions.

Comments

200 characters