MOSCOW: The Russian rouble weakened slightly on Thursday as the government resumed its buying of foreign currency for the state reserves but supported by higher prices for oil, Russia's main export.
At 0805 GMT, the rouble was 0.09 percent weaker against the dollar at 60.91 and had lost 0.21 percent to trade at 75.44 versus the euro.
The Finance Ministry put its daily purchases of foreign currency for state reserves on hold on April 9 due to a sharp fall in the value of the rouble caused by new US sanctions.
But the rouble has since recovered slightly and the finance ministry resumed buying on April 17, central bank data showed on Thursday, buying 17.5 billion roubles ($287 million) worth of foreign currency.
Higher oil prices and reduced risks of further US sanctions played to the rouble's upside, however.
Oil prices rose on Thursday to their highest in over three years as US crude inventories declined and as top exporter Saudi Arabia pushes for higher prices by continuing to withhold supplies.
Brent crude oil, a global benchmark for Russia's main export, was up more than 1 percent at $74.25 a barrel.
Russian news agencies also reported on Wednesday that US President Donald Trump's administration had informed the Russian embassy in Washington that the United States had no immediate plans to impose new sanctions.
Rating agency Moody said late on Wednesday that Russia's strong public and external finances would shield its economy from the impact of the latest US sanctions.
Local stock indexes were up. The dollar-denominated RTS index was up 0.73 percent to 1,162 points. The rouble-based MOEX Russian index was 0.41 percent higher at 2,250 points.
Shares in battered Russian aluminium producer Rusal, which has lost over 50 percent of its value since the US imposed sanctions against the company and its owner on April 6, were up more than 26 percent in Hong Kong and 8 percent on the Moscow Exchange.
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